Kalshi dominates non-sports prediction markets as volume hits $10 billion

Weekly trading volume in non-sports prediction markets reached a record $10 billion for the week ending September 13. Data from Artemis indicates this is the sixth consecutive week of record-breaking volume.

Kalshi has emerged as the dominant player in this category, capturing $9.6 billion of the total volume, compared to $344.2 million for Polymarket. This represents a significant shift in market share; while Polymarket led the market last year, Kalshi now controls approximately 96% of the non-sports category.

Kalshi’s growth is attributed to its distribution through mainstream retail platforms, including Robinhood, Coinbase, Webull, and Moomoo. These platforms offer Kalshi-powered contracts, often focusing on short-dated markets such as hourly contracts for the S&P 500, Nasdaq, Bitcoin, and Ethereum. In contrast, Polymarket's reach remains largely limited to crypto-native users.