$/€ Kalshi Overtakes Polymarket, Grabs 62% of Global Prediction Market Share
Kate Marshal
22 September 2025
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Pictured: Kalshi founders Tarek Mansour and Luana Lopes Lara
The Kalshi platform has recently taken the lead in the global prediction market, CoinDesk reports, citing data from Dune Analytics.
Between September 11 and 17, the company accounted for 62.2% of worldwide trading volume in prediction markets — a dramatic rise from just 3.1% a year ago.
Since the start of September 2025, Kalshi’s betting turnover has nearly reached $1.4 billion. By comparison, Polymarket — its main rival — reported a monthly trading volume of about $820 million.
Polymarket currently holds around 37% of the global market, while smaller emerging players like Robinhood and Coinbase account for only a marginal share.
For now, the industry is dominated by two major platforms: Kalshi and Polymarket. Kalshi retains the upper hand, but that balance could shift soon. Kalshi has operated as a regulated U.S. exchange since 2021, holding the necessary federal license. Polymarket, meanwhile, only secured permission to operate in the United States in September 2025, following its acquisition of derivatives exchange QCEX.
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