MetaMask's Prediction Platform Struggles to Gain Market Traction

Data shared by Paymentscan founder Dash on X, citing Dune analytics, reveals a sobering picture for MetaMask’s prediction market venture. Nearly a month into operation, the platform prediction segment has attracted merely 300 to 400 daily active users, with total transaction volume hovering around $700,000.

The engagement metrics paint an even starker reality when benchmarked against competitors. MetaMask’s perpetual trading activity on Hyperliquid represents only one-third to one-sixth of Phantom’s trading volume on the same platform. More significantly, the prediction market’s performance lags even further behind—tracking at less than one-tenth of Phantom’s comparable offerings.

These figures suggest that MetaMask’s foray into prediction markets faces considerable headwinds. While the wallet giant commands substantial brand recognition, translating that into active participation on this particular platform has proven challenging. The relatively modest user base and transaction volume indicate that the prediction market vertical remains a niche segment, with users gravitating toward more established alternatives.

The competitive gap becomes even more pronounced when factoring in Phantom’s apparent dominance across both derivatives and prediction trading. This disparity raises questions about whether MetaMask’s platform prediction strategy requires refinement, enhanced user incentives, or a broader market acceptance shift before reaching meaningful scale.