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

CoinNetwork · 2026-03-16T17:09:41+00:00

As the US-Iran conflict escalates, prediction market trading volumes surge significantly, with Polymarket and Kalshi reaching all-time highs in transaction volume. US regulators are tightening controls and proposing legislation to ban contracts involving war and personal death. The markets face scrutiny over insider trading concerns.

CoinNetwork

2026-03-16 17:09:41

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Crypto news reports that as traders flock to contracts related to the escalation of the US-Iran conflict, activity in prediction markets has surged significantly. Token Terminal data shows that during the week of March 9, Polymarket and Kalshi achieved nominal trading volumes of $2.49 billion and $2.85 billion respectively, both setting new records. Dune data indicates that the total nominal trading volume across all prediction markets has reached $145 billion, with 2.8 million unique users. Meanwhile, US regulators and legislators are tightening controls. Democratic Senator Adam Schiff proposed the DEATH BETS Act on Tuesday, 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 the US attacking Iran and profiting $1 million.

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