According to ChainCatcher, Limitless co-founder and CEO CJ Hetherington said he does not believe prediction markets will develop into a landscape dominated by a single platform. Instead, he described a structure that is more similar to the offshore perpetual futures market, where multiple platforms operate side by side rather than one venue capturing all activity. His view centers on how derivatives-style markets are used by professional participants and how that behavior affects liquidity distribution.
Market makers and high-frequency traders shape liquidity
Hetherington noted that professional market makers and high-frequency traders are the main contributors to both trading volume and fees in derivatives markets. These participants usually trade across several platforms at the same time, using price differences between venues to conduct spread arbitrage. As a result, liquidity is distributed among multiple platforms instead of being concentrated in a single winner.
He applied the same logic to prediction markets. In his framing, once professional trading activity becomes a major part of the market, differences in price, venue conditions and liquidity across platforms become part of the trading process itself. That structure supports a multi-platform environment rather than a market organized around only one dominant entry point.
Limitless reports nearly $2 billion in monthly volume
Hetherington also disclosed current operating figures for Limitless. The platform’s monthly trading volume is close to $2 billion. Its users are mainly from Asia-Pacific, which accounts for about 60%, and Europe, which accounts for about 30%. He added that Limitless has not yet entered the U.S. market because it is still waiting for regulatory approval.
On market size, Hetherington said the institutional and risk-transfer opportunities in prediction markets are about 10 times larger than before, and that this segment will be much larger than the retail side. His remarks show that Limitless is framing prediction markets not only as a retail trading category, but also as a venue for institutional participation and risk transfer.