Prediction market platform Kalshi recorded roughly $40 billion in nominal monthly trading volume for August, up about 4,500% from $874 million in the same month a year earlier.
Traffic surges
U.S. visits to Kalshi reached 15.4 million in July, a 1,520% increase from less than 1 million in August 2025. The U.S. accounted for nearly 80% of total site traffic, compared with 72.8% a year ago.
Market share
The entire prediction market industry saw nominal monthly trading volume rise from roughly $2 billion to $50.7 billion year-over-year in August, with Kalshi capturing nearly 79% of the latest total. Sports contracts drove 83% of Kalshi's July trading volume.
Regulatory uncertainty
Whether Kalshi's sports contracts fall under federal regulation or state gambling laws remains legally contested. New Jersey has brought the dispute to the U.S. Supreme Court.
International restrictions
Canada generated about 450,000 visits to Kalshi in July, and the U.K. about 296,000, up from roughly 50,000 and 31,000 respectively in August 2025. Users in both countries are currently barred from directly accessing or trading on the platform under Kalshi's membership agreement. Kalshi has partnered with Canadian financial services firm Wealthsimple to offer nearly 4,000 eligible contracts through a separate app.