1kX Report: Blockchain Revenue Expected to Drop 28% Year-on-Year in 2026, Real Economy Revenue Surpasses Infrastructure for the First Time
Source：
1kx.capital
The report is based on on-chain data from 2,621 protocols and financial reports from 104 listed companies, annualizing data from January to September 2026. DeFi and financial business accounted for approximately $65 billion, representing 66%. In the third quarter, revenue from the real economy reached about $5.3 billion, surpassing blockchain infrastructure revenue of approximately $5.1 billion for the first time. Prediction market fees exceeded $1.5 billion, roughly 19 times that of the same period last year, with the majority concentrated in Kalshi and Polymarket.
