Source of ADI Predictstreet's trading volume under question

The prediction market platform ADI Predictstreet has drawn attention over doubts about the source of its trading volume. The platform had become FIFA's official partner for the 2026 World Cup. An analysis based on blockchain data raised the question of whether the volume reflects real demand.

According to a review by The Wall Street Journal, about $108 million of the $167 million in volume traded at the end of September came from crypto wallets that appear to be linked to the company. Meanwhile, 99 percent of the trading activity at the end of August took place among 795 wallets. These accounts were reported to be funded from a single crypto address, the same address also collected the platform's trading fees, and the accounts traded almost exclusively among themselves.

Three Harvard University students spotted the pattern in public blockchain records. The crypto analytics firm Solidus Labs confirmed the findings. Academics who study unusual trading behavior also questioned whether the reported volumes reflect genuine market demand. The findings point to the possibility of fake volume, in which linked accounts trade with each other to create the impression of higher market activity. However, the available evidence does not establish deliberate manipulation, and it does not reveal who owns the wallets.

The platform launched in April and obtained a gambling license from Gibraltar. The license was later converted into a special regulatory framework created for prediction markets. The platform also stands out because of its reported ties to International Holding Company (IHC), which is chaired by Sheikh Tahnoon bin Zayed Al Nahyan, a senior member of the Abu Dhabi ruling family and the UAE's national security adviser. IHC denied claims that it controls Predictstreet.