Kalshi Surges Ahead of Polymarket in Prediction Market Trading Volume

Kalshi surpassed Polymarket in prediction market volume, with a weekly trading volume exceeding $500 million and an average open interest of $189 million. Kalshi captured 62% of total volume in the on-chain prediction market sector, while Polymarket's volume stood at $430 million and average open interest at $164 million. Polymarket is building out a greater position in the US with its acquisition of QCX and launch of earnings-based markets with Stocktwits.

In a significant development for the prediction market sector, Kalshi has overtaken Polymarket in weekly trading volume. According to data from Dune Analytics, Kalshi’s weekly trading volume reached $500 million, surpassing Polymarket’s $430 million and maintaining an average open interest of $189 million. This surge in activity highlights Kalshi's dominance in the on-chain prediction market sector, where it now holds 62% of the total volume, compared to Polymarket's 37% share Kalshi Overtakes Polymarket as NFL Season Fuels $500 Million Prediction Market Surge^[1].

The rise in Kalshi's market share can be attributed to several factors. The NFL season kickoff in September significantly boosted trading volumes, with Kalshi’s weekly volume matching levels typically seen during U.S. elections. Additionally, Kalshi's partnership with Robinhood in March introduced retail-friendly prediction markets around pro and college football, further accelerating adoption Kalshi Overtakes Polymarket as NFL Season Fuels $500 Million Prediction Market Surge^[1].

Meanwhile, Polymarket is making headway in the American market following regulatory approval from the CFTC. The platform is preparing for a US relaunch, which could intensify competition in Kalshi's home market. However, Kalshi continues to enjoy strong performance, with September reporting $1.3 billion in trading volume, outpacing Polymarket’s $773 million Kalshi Overtakes Polymarket as NFL Season Fuels $500 Million Prediction Market Surge^[1].

Both companies are positioning themselves for growth. Polymarket is focusing on its acquisition of QCEX and the launch of earnings-based markets with Stocktwits, while Kalshi is expanding its ecosystem with a new hub to fund developers and creators. Kalshi's recent partnerships with Solana and Base further indicate its strategy to bridge the crypto-native audience and develop prediction market infrastructure on blockchain Kalshi surges to 62% of global prediction market share^[2].

Investors are closely watching both firms. Polymarket is considering a new funding round at a $9–$10 billion valuation, while Kalshi is reportedly close to securing financing that would value it at $5 billion. These developments suggest that prediction markets are poised to break into the financial mainstream, driven by the convergence of sports betting, crypto integrations, and political wagers Kalshi surges to 62% of global prediction market share^[2].