Kalshi pulls ahead as volumes hit a historic high

Kalshi has overtaken Polymarket to become the world’s largest prediction market by trading volume, setting a new industry record after processing $2.3 billion in weekly trades. The milestone marks a decisive shift in the balance of power between the two platforms, driven by Kalshi’s dominance in sports contracts and its expanding blockchain integrations.

Data from Artemis shows that Kalshi recorded $2.3 billion in trading volume during the week ending Dec. 21, marking the platform’s first-ever weekly close above the $2 billion threshold. The figure nearly doubled Polymarket’s $1.2 billion over the same period, firmly positioning Kalshi as the leading venue for event-based trading.

The surge reflects a broader acceleration in Kalshi’s activity across multiple market categories, following several infrastructure upgrades aimed at lowering transaction costs and expanding user access. Over the past quarter, total trading volume on the platform has surpassed $23.7 billion, signaling sustained engagement rather than a one-off spike.

A major catalyst behind the record-breaking week was Kalshi’s recent integration with the TRON network, which enabled TRX and USDT deposits and withdrawals. The addition gave traders access to faster settlement times and lower fees, encouraging short-term inflows and higher-frequency trading. Expanded payment rails have historically played a key role in boosting liquidity across crypto-adjacent platforms, and Kalshi’s experience appears to follow that pattern.

Sports prediction markets have emerged as Kalshi’s most powerful growth engine and a key differentiator in its competition with Polymarket. Contracts tied to the next Pro Football Champion alone generated more than $65.8 million in trading volume, while broader sports-related markets accounted for the largest share of activity on the platform.

Earlier data highlights the scale of this advantage. During a single week between Oct. 20 and Oct. 27, Kalshi processed more than $1.1 billion in sports trades, compared with $357 million reported by Polymarket over the same period. The disparity underscores Kalshi’s strong alignment with mainstream sporting events, which tend to attract higher participation and repeat engagement than niche political or macroeconomic markets.

The shift marks a reversal from earlier in the year, when political prediction markets tied to the U.S. election cycle propelled Polymarket to the top of the industry. That momentum began to fade in September as election-driven speculation cooled and Kalshi’s diversified offering — spanning sports, esports and real-world event contracts — gained traction.

By that point, Kalshi had already captured 62% of global prediction market volume, compared with Polymarket’s 37%, signaling a structural change rather than a temporary swing.

Kalshi’s rise has also been fueled by an aggressive push into blockchain-based distribution channels, broadening access to crypto-native liquidity while maintaining regulatory oversight. Earlier this month, the platform launched tokenized event contracts on Solana, enabling on-chain trading through smart contracts and developer tools known as Kalshi Builder Codes.

The Solana deployment complements Kalshi’s presence across Base and integrations with Robinhood, extending its reach to both crypto-native users and traditional retail traders. According to Kalshi’s crypto leadership, these expansions unlock billions of dollars in potential liquidity while offering users faster execution and additional privacy options.

Together, the platform’s focus on high-volume sports markets, low-cost blockchain rails and multi-platform accessibility has reshaped the competitive landscape. As prediction markets continue to move toward the mainstream, Kalshi’s ability to combine scale, infrastructure and user demand has allowed it to decisively outpace Polymarket — and establish itself as the dominant force heading into 2026.