Phoenix Paradise

About Phoenix Paradise

While sports event contracts remain the headline-grabbers for prediction market operators, there’s evidence that other categories are experiencing growth. As Bernstein points out, cryptocurrency event contracts account for at least 20% of the turnover on the two largest prediction markets.

In another encouraging non-sports sign, one of those operators notched just $2 million in commodities volume last year, but that figure surpassed $410 million in August alone and is approaching $600 million on a year-to-date basis.

Bernstein estimates the global market for financial contracts will grow to $900 trillion by 2035, up from $700 trillion last year, and if prediction markets capture just 0.5% of that total, volume would increase by $4.7 trillion per year.

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About Phoenix Paradise

The committee concluded that current evidence justified taking “meaningful steps” against the sector, including a comprehensive advertising ban, to reduce exposure especially among children and vulnerable groups, and to curb problem gambling.

The report underscored gambling harm as a significant public health concern. It cited the Gambling Commission’s Gambling Survey for Great Britain (GSGB), which has indicated that between one and 1.5 million adults in Great Britain now score high enough on the Problem Gambling Severity Index (PGSI) rangeto indicate problem gambling. 

According to the system used to rank players on the PGSI, a score of 0 or between 1 and 3 is considered low-risk, while scoring between 3 and 7 suggests moderate risk, and a score of 8 or higher represents problem gambling.