Kalshi has recorded another impressive weekend in trade volume, driven primarily by the NFL.
According to data shared by TickerTracker, the prediction market recorded over $6 billion in combined trade volume over the weekend. After generating almost $4.9 billion across the previous Saturday and Sunday, Kalshi has seemingly already made its previous and extremely recent record look small.
Both Saturday and Sunday pushed $3 billion in volume each, adding more substance to records that have only seemed to accelerate since the NFL season began.
Kalshi Trading Volume Continues to Climb
For anyone who follows the prediction market industry, fast growth is no surprise. However, since the NFL season began, and even with that context, this growth is something worth taking in.
According to TickerTracker data cited by The Event Horizon, Saturday saw approximately $3 billion in volume, and sports accounted for 26.2% of that activity. It’s parlay-style combo contracts accounted for another 63.6%.
On Sunday, separate market data tracked more than $3.1 billion in Kalshi trade volume. As mentioned earlier, this comes just one week after Kalshi set a new two-day record at approximately $4.89 billion in trade volume.
Record Growth Comes During Prediction Market Legal Fight
Trading records continue to be set, but prediction markets have faced even more pressure recently, especially regarding sports event contracts.
The Ninth Circuit recently ruled against Kalshi in a case brought forth by California tribes, overturning a lower-court decision that had previously denied the tribes preliminary relief.
On top of that, Missouri Attorney General Catherine Hanaway has ordered several prediction market companies, including Kalshi and Polymarket, to stop offering sports event contracts in the state unless they obtain the required sports wagering licenses. Cease-and-desist letters have been issued to Polymarket, Kalshi, Crypto.com, Novig, Underdog, and Robinhood.
These situations and more make for a bittersweet moment for Kalshi and other prediction market operators. Records are being set, but at the same time, they are facing strong legal and regulatory scrutiny and challenges. As football season rolls on, we’ll likely continue to see a growing contradiction.
