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Transactional memory (TM) provides an intuitive and simple way of writing parallel programs. TMs execute parallel programs speculatively and deliver better performance than conventional lock based parallel programs. However, in certain scenarios when an application lacks scope for parallelism, TMs are outperformed by conventional fine-grained locking. TM schedulers, which serialize transactions that face contention, have shown promise in improving performance of TMs in such scenarios. In this thesis, we develop a Dynamic Prediction based Scheduler (DPS) that exploits novel prediction techniques, like temporal locality and locality of access across repeated transactions. DPS predicts the access sets of future transactions based on the access patterns of the past transactions of the individual threads. We also propose a novel heuristic, called serialization affinity, which tends to serialize transactions with a probability proportional to the current amount of contention. Using the information of the currently executing transactions, the current amount of contention, and the predicted access sets, DPS dynamically serializes transactions to minimize conflicts. We implement DPS in two state-of-the-art STMs, SwissTM and TinySTM. Our results show that in scenarios where the number of threads is higher than the number of cores, DPS improves the performance of these STMs by up to 55% and 3000% respectively. On the other hand, the overhead of prediction techniques in DPS causes a performance degradation of just 5-8% in some cases, when the number of threads is less than the number of cores.