Contracts on whether the price of bitcoin and other cryptocurrencies will be higher or lower in five or 15 minutes are attracting roughly $70mn in daily trading volume across Polymarket and Kalshi, data from the two biggest prediction platforms shows. Both platforms began offering 15-minute “up-down” bets on bitcoin, ethereum, solana and XRP late last year, and Polymarket has since added five-minute bets on the same tokens. These contracts now represent more than half of all crypto trading on both markets. Their growth has also created new inefficiencies that sophisticated traders have jumped on.

https://www.ft.com/content/af1f4bba-f129-499d-96b6-d85d30083df5