According to CryptoComLearn, prediction market platform Kalshi experienced explosive growth in 2025, with annual trading volume reaching $23.8 billion, a staggering 1,108% increase from 2024. This milestone positions Kalshi as a major player in the U.S. derivatives landscape.
December Shattered Multiple Records
In December 2025 alone, Kalshi generated $6.38 billion in trading volume, setting a new monthly all-time high. The platform also saw its single-day volume peak at $381.7 million on December 21. Transaction count for the month reached 27.67 million, underscoring the surge in market participation.
Soaring Transaction Count and Open Interest
For the full year, Kalshi processed 97 million transactions, up 1,680% year-over-year. Total open interest stood at $225 million, a 169% increase from 2024, with a daily record of $53.3 million set on March 9. The total number of contracts traded reached 23.8 billion in 2025, and December set new records on monthly, weekly, and daily timeframes.
Key Growth Drivers
Kalshi's explosive growth is closely tied to high-profile events such as the U.S. presidential election and economic data releases, which drove heavy activity. Its regulatory compliance under the CFTC has attracted both retail and institutional liquidity. Analysts predict that if the trend continues, Kalshi could surpass $100 billion in annual volume by 2026.