Prediction Market Volume Hits $123.3 Billion in October, With Kalshi Accounting for About 80%

Prediction markets recorded $123.3 billion in trading volume in October, surpassing $100 billion for the first time. According to ChainCatcher, Artemis data show the total was up about 53.9% from September’s record, while the number of trades reached 642.9 million. Kalshi accounted for $98.2 billion, or about 80% of the volume, across 465.5 million trades. Polymarket recorded $20.2 billion in volume and 148 million trades. Parlay products fueled by the football season were a major driver, making up 67.6% of Kalshi’s monthly volume; most contracts were priced below one cent. Kalshi calculates volume using each contract’s full $1 payout value, so the figure does not represent the funds traders actually invested. Trading volume in U.S. midterm election markets exceeded $1.4 billion. Crypto contract volume on Kalshi and Polymarket topped $3 billion for two consecutive weeks for the first time. Polymarket’s U.S. platform recorded nearly $10 billion in October volume, about 15% above its previous record.