Kalshi Pulls Far Ahead of Polymarket in 2026 Trading Volume

Kalshi has recorded $174.5 billion in trading volume since the start of 2026. That is nearly 2.7 times Polymarket’s total over the same period, according to data as of August 29 from a prediction markets analytics platform developed by investment firm Paradigm.

Sports are the main driver of Kalshi’s trading activity.

Multi-event sports contracts — similar to parlay bets offered by sportsbooks — stand out in particular. Among individual sports, basketball, tennis, soccer and baseball account for some of the largest volumes. Golf, American football, cricket, hockey, esports and MMA generate considerably less trading activity.

Cryptocurrency markets also make up a notable share of Kalshi’s volume, particularly contracts linked to the price of Bitcoin. Politics accounts for a much smaller portion. Another $19.8 billion remains uncategorized.

Polymarket recorded $64.9 billion in trading volume over the same period. Sports, including soccer, also make up a significant share of its classified markets. Political events and cryptocurrencies account for substantial trading activity as well. A further $24.7 billion remains uncategorized.

Overall, Kalshi has generated nearly 2.7 times as much trading volume as Polymarket since the start of the year and is much more heavily focused on sports markets. Polymarket’s activity is more evenly distributed across sports, politics and other categories.