CoinMeta data: According to Bloomberg, citing data compiled by user Dune Analytics, last week the total notional trading volume of crypto-related event contracts on Kalshi and Polymarket reached $2.7 billion, a record high, driven mainly by contracts that bet on short-term price movements of assets such as Bitcoin. The settlement periods for these contracts range from 5 minutes to one day, and in a single 15-minute period, the trading volume for Bitcoin price fluctuation contracts on Kalshi could exceed $1 million. Cryptocurrencies have become the second-largest category of transactions on these two platforms, second only to sports.