Prediction Market Trading Volume Surges Amid US-Iran Conflict; US Senator Proposes Legislation to Ban War Betting

ZkProver · 2026-03-16T15:19:24+00:00

As of March 9, Polymarket and Kalshi reached record trading volumes of $2.49 billion and $2.85 billion respectively, driving total trading volume to $145 billion. Meanwhile, U.S. senators have proposed legislation to prohibit prediction markets from listing contracts related to wars and deaths.

ZkProver

2026-03-16 15:19:24

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According to ChainCatcher, data shows that as of the week ending March 9, the nominal trading volumes of Polymarket and Kalshi reached new highs, at $2.49 billion and $2.85 billion respectively. Dune data indicates that the continued growth in trading activity has pushed the total nominal trading volume across all prediction markets to $145 billion, with 2.8 million unique users.

Meanwhile, U.S. Democratic Senator Adam Schiff has introduced the DEATH BETS Act, aiming to amend the Commodity Exchange Act (CEA) to explicitly prohibit federally regulated prediction markets from listing contracts related to war, terrorism, assassination, and personal death. Previously, six Polymarket traders faced insider trading allegations after accurately betting on a US attack on Iran, profiting $1 million.

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