US clearing firm Wedbush said on Monday that it had cumulatively cleared more than 1 billion prediction market contracts as of May 31, roughly six months after it began supporting the products when CME launched them in mid-December.
The firm said the total spans hundreds of contracts listed on multiple exchanges. Wedbush said its infrastructure supports the onboarding of thousands of accounts per second and the movement of millions of dollars through tens of thousands of daily transactions.
Volume rose earlier this year. In February, Wedbush said it cleared tens of millions of prediction market contracts on a single day during Super Bowl LX weekend across 350+ products.
“As prediction markets have experienced substantial growth, we have continued to invest in the technology and operational capabilities to meet that demand,” said Bob Fitzsimmons, Executive Vice President of Wedbush.
The milestone comes as prediction markets face growing regulatory attention. The CFTC’s Division of Enforcement issued an advisory in February asserting its full authority to police trading practices on any designated contract market, including surveillance, audit trails and rules against manipulation.
Wedbush was founded in 1955 and offers both equity and futures clearing.
