60% of Polymarket Traders Are Crypto Newbies
Posted on: June 29, 2026, 06:18h.
Last updated on: June 29, 2026, 06:18h.
- Bitget study says 60% of Polymarket traders have previously never traded onchain
- Polymarket is decentralized and a crypto-native prediction market
- The platform is serving as a new way of introducing traders to cryptocurrency
A new study indicates a significant percentage of Polymarket traders are introduced to the blockchain and cryptocurrency by way of the prediction market.
A report by Bitget Wallet, which surveyed 857,000 active Polymarket traders over a 90-day span, indicates that 60% of them had never traded onchain or engaged with digital currency prior to funding their accounts with the yes/no exchange. “Onchain” refers to transactions that occur and are stored and verified on the blockchain. That’s relevant in discussing Polymarket because the prediction market is crypto-native and decentralized.
Prediction markets are increasingly functioning as an entry point into crypto rather than a niche trading category, with users now entering onchain activity directly through application-level interfaces instead of decentralized exchanges or decentralized finance (DeFi) protocols,” observes Bitget Wallet.
Kalshi, the largest U.S. prediction market operator, is centralized, though it has significant cryptocurrency inroads in its own right.
Potentially Good News for Polymarket
By both market share and private market valuation, Kalshi tops Polymarket, but the latter’s crypto-first, DeFi posture is proving to be an asset.
As Bitget Wallet points out, once new traders get acclimated to Polymarket, they’re activity ramps up in significant fashion. The research firm notes that surveyed users had nearly 1,200 prediction market interactions over 90 days compared to about 12 trades on standard decentralized exchanges (DEX) over the same span.
The research arrived around the same as reports suggesting Polymaket topped $1 billion in annualized revenue. Polymarket runs on the Polygon network, but data indicate the bulk of the prediction market’s liquidity is sourced via Ethereum-based chains.
“This suggests prediction markets are not simply a new crypto trading vertical, but an application-led onboarding mechanism, where users begin with real-world questions and only later interact with underlying financial infrastructure,” notes Bitget.
Prediction Markets Onboarding New Crypto Users
Some experts view prediction markets as a new frontier for cryptocurrency usage — a perspective validated by the Bitget Wallet findings. As Biget Wallet COO Alvin Kan points out, prediction markets are increasingly the first form of crypto exposure for many traders.
Potentially bolstering the cyrptocurrency/prediction market intersection is the point that new traders don’t need to be blockchain or DeFi proficient prior to participating in prediction markets. The lack of intimidating customer-facing infrastructure can foster longer-lasting relationships between traders and platforms such as Polymarket.
“As a result, prediction markets appear to be evolving into one of the first scalable consumer onboarding layers for crypto, where blockchain infrastructure becomes increasingly invisible and user interaction is defined by real-world outcomes rather than financial primitives,” concludes Bitget Wallet.
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