Sports is the top source of trading volume on both Kalshi and Polymarket
Monthly global trading volume on Kalshi and Polymarket, in U.S. dollars
Note: Polymarket includes Polymarket US. Data is shown through July 2026.
Source: Pew Research Center analysis of data from The Block, accessed September 2026.
PEW RESEARCH CENTER
Sports is the top source of trading volume on both Kalshi and Polymarket
Monthly global trading volume on Kalshi and Polymarket, in U.S. dollars
| Kalshi monthly volume (in millions) | Polymarket monthly volume (in millions) | |||||||
|---|---|---|---|---|---|---|---|---|
| Date | Sports | Politics | Cryptocurrency | Other | Sports | Politics | Cryptocurrency | Other |
| July 2024 | 0.0 | 0.9 | 1.8 | 26.2 | 19.3 | 733.8 | 12.6 | 15.5 |
| August 2024 | 0.0 | 0.8 | 1.8 | 21.6 | 58.6 | 742.5 | 14.1 | 50.3 |
| September 2024 | 0.0 | 1.0 | 1.9 | 18.5 | 127.5 | 629.8 | 23.5 | 84.3 |
| October 2024 | 0.0 | 263.5 | 3.9 | 12.7 | 1074.7 | 2960.3 | 154.1 | 76.9 |
| November 2024 | 0.0 | 1127.7 | 68.6 | 74.4 | 1053.1 | 2059.5 | 157.9 | 195.6 |
| December 2024 | 0.1 | 90.5 | 65.9 | 69.6 | 1904.6 | 934.8 | 187.4 | 219.2 |
| January 2025 | 7.7 | 82.3 | 31.3 | 53.6 | 1552.1 | 537.5 | 165.8 | 395.6 |
| February 2025 | 37.5 | 42.5 | 36.9 | 69.6 | 953.8 | 294.1 | 163.4 | 119.5 |
| March 2025 | 405.9 | 30.9 | 31.0 | 53.4 | 439.5 | 317.6 | 129.4 | 333.1 |
| April 2025 | 296.8 | 39.0 | 31.4 | 93.2 | 339.2 | 547.7 | 155.4 | 270.5 |
| May 2025 | 509.3 | 23.9 | 29.7 | 101.5 | 302.1 | 625.6 | 175.6 | 169.5 |
| June 2025 | 619.8 | 37.9 | 37.4 | 86.7 | 290.6 | 657.2 | 256.6 | 126.9 |
| July 2025 | 541.7 | 33.9 | 61.2 | 103.6 | 326.0 | 221.4 | 290.6 | 437.5 |
| August 2025 | 657.6 | 27.2 | 97.5 | 92.1 | 384.0 | 289.8 | 319.3 | 110.2 |
| September 2025 | 2561.8 | 40.5 | 99.1 | 162.2 | 676.7 | 528.9 | 288.1 | 151.9 |
| October 2025 | 3953.7 | 133.1 | 125.0 | 186.1 | 1427.6 | 1281.5 | 799.6 | 595.0 |
| November 2025 | 5256.8 | 234.7 | 128.9 | 189.5 | 1749.5 | 855.7 | 1028.0 | 697.3 |
| December 2025 | 5995.1 | 82.6 | 184.7 | 321.7 | 2071.3 | 1214.3 | 1436.8 | 676.1 |
| January 2026 | 8519.7 | 259.9 | 340.2 | 434.5 | 3382.8 | 2098.5 | 1819.5 | 639.7 |
| February 2026 | 8522.6 | 297.8 | 793.3 | 822.7 | 3219.4 | 1964.0 | 2399.4 | 622.9 |
| March 2026 | 9962.9 | 194.6 | 1211.2 | 1626.4 | 5007.2 | 2547.3 | 2923.5 | 796.0 |
| April 2026 | 11519.2 | 204.9 | 1358.1 | 1725.6 | 4729.0 | 2488.7 | 1873.2 | 1178.9 |
| May 2026 | 12981.4 | 213.1 | 1882.2 | 1737.1 | 5037.4 | 1435.0 | 1333.2 | 1040.9 |
| June 2026 | 26610.4 | 261.2 | 4012.8 | 2118.2 | 11381.0 | 1263.9 | 1649.3 | 448.8 |
| July 2026 | 31395.7 | 169.2 | 6101.1 | 2437.1 | 10618.5 | 726.8 | 1154.1 | 391.0 |
Note: Polymarket includes Polymarket US. Data is shown through July 2026.
Source: Pew Research Center analysis of data from The Block, accessed September 2026.
PEW RESEARCH CENTER
