Crypto: Magic Eden Co-founder Sees ‘speculation Supercycle’ Ahead 2026

Trading volumes in prediction markets are higher than ever, with Monday seeing a record $814.2 million worth of trades placed on Kalshi, Polymarket and other platforms.

Magic Eden CEO and co-founder Jack Lu says his company will be well-positioned for the “supercycle” where “finance merges with entertainment” amid a recent boom in prediction markets and betting.

“Speculation is mainstream now. And Magic Eden is building for this world,” Lu posted to X on Monday.

Lu’s remarks come as prediction markets’ trading volumes reached a record $814.2 million on Monday, smashing the previous record of $701.7 million last Monday, Dune Analytics data shows.

Kalshi continues to lead trading volumes across politics, finance, sport, and entertainment markets, while Polymarket and Opinion are also performing strongly.

In the same post, Lu confirmed that its new crypto casino and sportsbook platform Dicey will launch this quarter. The platform incentivizes users to host games, place wagers, and engage with friends in a decentralized environment.

Earlier on Monday, Magic Eden said tokenholders will also get a cut of any new initiatives.

A total of 15% of all Magic Eden revenue flow will go back to Magic Eden (ME) token holders, the company said.

This revenue will be split equally between ME buybacks and staking rewards, paid out in the USDC (USDC) stablecoin.

Revenue earned from staking will be based on how much ME is staked and for how long, with USDC rewards claimable monthly starting from March.

Source: CoinTelegraph