Prediction markets now move $24 billion a month — more than legal sportsbooks. Here's how they avoid sports betting taxes, and how and why states are fighting back.

Prediction markets now move $24 billion a month — more than legal sportsbooks. Here's how they avoid sports betting taxes, and how and why states are fighting back.

Prediction markets now account for nearly 5% of crypto spot exchange volume, up from 1% six months ago, with monthly volumes hitting $25.7 billion in March