Prediction Markets: July Volume Hits $52B ATH

Prediction markets posted record $52B monthly volume in July, doubling since January while grabbing 27% of legal U.S. sports betting. Robinhood reported prediction markets revenue at $156M versus $100M from crypto. Hyperliquid launched permissionless outcome markets via HIP-4 on testnet with Outcome first to deploy, while IG Group agreed to buy Underdog for $1.3B. Stanford identified 821 manipulators netting $8.2M on Polymarket BTC contracts and WSJ detailed fake volume schemes. The DOJ charged a soldier over classified bets and an Israeli pilot faced indictment for strike timing wagers. Binance US filed for a CFTC license amid 44 state AGs challenging CFTC authority and a looming Supreme Court case.