The prediction market’s volumes accelerated over the past seven days to overtake its main rival.
Prediction marketplace Kalshi saw its spot volumes hit a new record for the week ending on Dec. 21, notably surpassing its main rival Polymarket’s activity.
According to Artemis data, Kalshi saw $2.3 billion trading volume last week, roughly 92% higher than Polymarket’s $1.2 billion for the same period. This was also the first time Kalshi’s weekly volume exceeded the $2 billion mark.
For Kalshi, the surge in activity coincided with the platform’s integration of the TRON network, enabling deposits and withdrawals in TRX and USDT on TRON.
Kalshi Data also shows that the platform’s cumulative volume surpassed $23.7 billion as of Dec. 23.As of press time, Kalshi’s top sector by trading volume by far remains sports markets, with the market predicting the next Pro Football Champion already exceeding $65.8 million in volume, according to the platform’s statistics.
Earlier in November, The Defiant reported that Kalshi’s sports markets have surged, with the hybrid on-chain-off-chain platform processing over $1.1 billion in sports betting volume in a single week from Oct. 20 to Oct. 27, compared with just $51 million in its politics category during the same period.
By comparison, on-chain prediction market Polymarket posted $357 million in sports market volume over that week.
Prediction markets have exploded into mainstream usage in the past year, kicking off with the U.S. presidential elections last fall. Polymarket maintained its position as the leader in terms of volumes until just this September, when activity on Kalshi began ramping up. Both broke new monthly trading volumes records in November.
