Two Prediction Markets Shut Down Hours Apart as Kalshi and Polymarket Take 93% of Volume
Prediction markets Trepa and Fireplace have shut down, with users advised to withdraw their funds by September 30th. The two platforms cited low volume as a reason for closure. Both marketplaces had been operating in a competitive landscape dominated by Kalshi and Polymarket.
Why it matters The shutdowns will likely lead to a consolidation of user activity within the remaining prediction markets, with holders of Trepa and Fireplace assets facing uncertainty regarding their future use or potential redemption.