Are Prediction Markets the Next Chapter in DeFi? What Myriad Crossing $10M Trading Volume Tells Us
Why Are Prediction Markets Suddenly in the Spotlight?
Prediction markets have existed for centuries in different forms, from betting exchanges to commodity speculation. But in decentralized finance (DeFi), they are gaining renewed attention as a way to turn information and forecasts into tradable assets. This is the space where Myriad, a Web3 prediction and trading protocol, is establishing itself.
\ The company announced it has surpassed $10 million in USDC trading volume since launch, onboarding more than 511,000 users and facilitating over 5.4 million predictions. In a world where DeFi platforms measure their growth by user adoption and transaction size, these numbers indicate that speculation is no longer just a side activity but potentially a new segment of capital markets.
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Myriad’s Origins and Media Influence
Myriad is not an anonymous crypto startup. Its roots trace back to Decrypt and Rug Radio, two established media ventures in the Web3 ecosystem. This background matters because media outlets in Web3 often act as hubs for community trust and information flow. By emerging from this environment, Myriad has leveraged a credibility base that is rare for early-stage DeFi protocols.
\ That heritage has shaped its ethos. Instead of positioning itself purely as a speculative exchange, Myriad is presenting prediction markets as a system where information itself can become an asset class. For example, users can trade on questions like whether interest rates will rise, or which political candidate may win an election. This turns public expectations into financial instruments.
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What Do Industry Leaders Think?
Loxley Fernandes, co-founder and CEO of Myriad, describes the idea as simple but transformative. “Financial markets have always been about speculation, but Myriad is turning speculation into a product,” he said. “We are showing that trading ideas and forecasts is not only possible, it is the next frontier for capital markets.”
\ This belief is echoed in traditional finance circles. Thomas Peterffy, founder of Interactive Brokers, has suggested that prediction markets could one day surpass the stock market within the next 15 years. His reasoning is that markets which price real-world expectations may eventually prove more efficient than those limited to company shares.
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Loxley Fernandes, co-founder and CEO of Myriad, explains,
\ Such statements illustrate that prediction markets are not only a crypto-native concept but could appeal to broader capital markets if infrastructure and regulation align.
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How the Protocol Is Expanding
Myriad’s strategy is not limited to consumer speculation. It is being developed as a B2B protocol that other prediction applications can use. The platform has already been deployed on Abstract and Linea, and its roadmap includes integrations with EigenLayer and EigenCloud.
\ The team is also working on introducing blended oracles and a new framework called ERC-PRED, which would function as an asset class tailored for prediction markets. Oracles, which connect blockchain systems with real-world data, are critical because they determine whether predictions resolve accurately. Without reliable oracles, prediction markets cannot function fairly.
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Compliance, Adoption, and the Road Ahead
One of the biggest challenges for prediction markets is regulation. Historically, they have faced pushback from governments who view them as gambling rather than financial instruments. Myriad has outlined a compliance-first strategy, particularly in the United States, in an attempt to avoid the fate of earlier platforms that were shut down.
\ At the same time, retail adoption has been strong. The platform reports more than 60,000 browser extension installs, suggesting a growing user base that interacts with predictions as naturally as with DeFi swaps or NFT marketplaces. If this momentum continues, prediction markets could move from niche experiments to a mainstream component of decentralized finance.
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Why This Matters
Prediction markets test the boundary between information and money. If people can trade forecasts the same way they trade stocks, then consensus itself becomes an investable asset. For DeFi, which has often struggled to find utility beyond trading tokens, this represents a meaningful evolution.
\ However, the sector faces hurdles. Regulatory clarity is uncertain, and the reliance on accurate oracles makes the system fragile. Silver bullets like ERC-PRED may solve part of the equation, but adoption will depend on whether institutions view prediction markets as legitimate finance or as speculation dressed in blockchain clothing.
\ Milestones like $10 million in trading volume and half a million users suggest that something real is forming. If prediction markets gain institutional recognition, they may not just complement DeFi but redefine it.
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:::tip This author is an independent contributor publishing via our business blogging program. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYO
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