Prediction Markets: From Structural Bottlenecks to Infrastructure Revolution and the Future of Attention Assets
Abstract
Prediction markets are undergoing a critical transition from speculative tools to financial infrastructure, while simultaneously giving rise to an entirely new class of attention assets. In the first ten months of 2025, global prediction market trading volume reached $27.9 billion (https://crypto.com/us/research/prediction-markets-oct-2025), achieving an explosive 210% growth compared to 2024. However, behind the impressive numbers lie five major structural problems: the liquidity paradox, market discovery barriers, user expression limitations, permissionless creation dilemmas, and oracle settlement challenges.
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