On-chain gambling reached $14 billion in the first quarter of 2026, following a record $15 billion in the fourth quarter of 2025, despite falling crypto prices and weak market activity. TRM Labs valued total on-chain gambling volume at $51 billion in 2025, while stablecoins dominate transactions on TRON, with USDT accounting for about 94% of that volume. Crypto casinos allow users to deposit and withdraw directly from a wallet, generally offering faster transactions and broader international access, as illustrated by the launch of Paysafe’s “Pay with Crypto” option for US operators in April 2026. Growth remains concentrated, with 6.3% of individual gambling wallets generating 91.8% of volume since 2022, while network selection, fees and operator solvency remain significant risks.
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