Perpetual futures, or “perps,” make up more than 70% of centralized crypto exchanges’ volume, according to the report.

It was reported last week that prediction markets Kalshi and Polymarket plan to compete in this area, where the current players include Robinhood and Coinbase, the report said.

Analysts told CNBC that the companies’ perpetual future offerings are most likely to appeal to the prediction markets’ existing customers, rather than draw users away from other platforms, and are probably meant to retain customers as other…