Gate News message, April 28 — Kalshi, a regulated prediction market platform, processed $3.4 billion in trading volume for the week ending April 26, marking a new all-time high, according to data from Artemis. Sports markets alone accounted for $3 billion, or 88% of total volume—surpassing Polymarket’s entire weekly volume by approximately $1 billion.
Kalshi’s sports-driven growth has been dramatic; weekly volumes stood at $80.5 million a year ago, representing a 42-fold increase. Sports contracts generated $3 billion in volume, while crypto markets recorded $334.1 million and politics just $16.8 million. The NBA playoffs are currently the primary driver of sports volumes. In contrast, Polymarket recorded $1.4 billion in total weekly volume with a more diversified structure: sports at $959.1 million, politics at $507.3 million, and crypto at $416 million. On political markets specifically, Polymarket dominated with $507.3 million compared to Kalshi’s $16.8 million—a roughly 30-to-1 disparity.
The divergence reflects fundamentally different market strategies. Kalshi has positioned itself as a regulated alternative to traditional sports betting platforms like DraftKings and FanDuel, targeting sharp and casual bettors with per-game moneylines and spreads. Polymarket, with its global user base, remains the primary venue for traders seeking exposure to elections, geopolitical events, and macro outcomes.
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