Kalshi Leads Polymarket in Trading Activity Amid Growing U.S. Market Participation

Kalshi Tops Polymarket in Prediction Market Volume Amid U.S. Trading Surge

Kalshi dominated the on-chain prediction market last week, posting trading volumes exceeding $500 million and average open interest near $189 million, surpassing Polymarket, according to Dune Analytics.

From Sept. 11 to 17, Kalshi accounted for 62% of total sector volume, while Polymarket captured 37%. Analysts noted that Kalshi’s higher turnover reflects more active trading, compared with Polymarket’s longer-duration markets, which keep funds locked for extended periods.

Polymarket is expanding its U.S. presence, having completed its acquisition of QCX, a regulated derivatives exchange, and launching earnings-based markets with Stocktwits to help investors hedge and track real-time market sentiment.