Kalshi overtakes Polymarket with $1 billion in trading volume

The battle of the prediction markets heats up as Kalshi reaches a landmark in monthly trading volume.

Kalshi, the United States-regulated prediction market platform, has surpassed $1 billion in monthly trading volume for the first time, overtaking rival Polymarket to become the leader in the sector.

Prediction markets allow participants to trade contracts based on the outcome of future events, such as elections, economic indicators, or cultural happenings.

Unlike many offshore or blockchain-based operators, Kalshi is regulated by the U.S. Commodity Futures Trading Commission (CFTC). This regulatory status allows Americans to participate legally, which has provided an advantage over competitors like Polymarket.  

Kalshi's growth and positioning

Kalshi’s expansion has been fuelled by heightened interest in politically themed contracts and economic forecasts, as well as some more novel markets. 

While prediction markets remain niche compared to traditional financial trading, Kalshi’s achievement signals growing acceptance of event-based trading as an alternative investment and hedging tool, rather than necessarily an alternative to sports betting. 

Earlier this month, we reported that Kalshi was valued at $5 billion and Polymarket was valued as high as $10 billion. GGPoker ambassador Daniel Negreanu signed on as a Kalshi partner just last week.