Kalshi and Polymarket Smash Records with $5.9B Week in Prediction Markets
Last week was a huge benchmark moment for prediction markets, with Kalshi and Polymarket smashing previous records as traders poured nearly $5.9 billion into contracts across the biggest platforms in the space. Both exchanges posted their highest weekly notional volume ever, with sports bets playing a massive role in driving the surge.
Sports Betting Drives a Historic Surge in Kalshi, Polymarket Market Volume
On the numbers front, Kalshi led the pack, clocking in about $2.15 billion in volume, roughly a 7% increase week‑over‑week. Polymarket wasn’t far behind, posting $1.76 billion, representing a strong 16.9% jump compared with the week prior. All told, these platforms, along with a handful of smaller players, pushed overall prediction market activity close to that $6 billion milestone for the Jan. 12‑18 period.
One of the biggest stories here is how Kalshi’s strategy around sports markets is paying off. Of its weekly volume, an eye‑popping $1.95 billion came from sports‑related trading, particularly around the NFL’s divisional round games over the weekend. Four playoff matchups alone accounted for more than $250 million in bets, with standout action on games like Bills vs. Broncos and 49ers vs. Seahawks.
Digging deeper, it’s interesting to see the trend lines between the two major players. Kalshi has now posted 13 straight weeks of higher weekly volume than Polymarket, a streak dating back to mid‑October.
The broader prediction market ecosystem is growing too. Platforms tracked by Dune Data, including opinion markets and newer entrants, all contributed to the overall increase, indicating that interest in betting on everything from sports to politics to crypto events is broader than ever.
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