Kalshi Leads Prediction Market with 62% Trading Volume Share

Kalshi has emerged as a leader in the prediction market, accounting for 62% of total trading volume between September 11 and 17, according to Dune Analytics. The platform's weekly trading volume exceeded $500 million, with an average open interest around $189 million. This surpasses its competitor Polymarket, which recorded a trading volume of $430 million and an average open interest of $164 million.

Prediction market volumes (Dune)

Kalshi's open interest-to-volume ratio is at 0.29, indicating higher trading frequency compared to Polymarket's 0.38 ratio.
Polymarket focuses on longer-term markets, locking user funds for extended periods.
Polymarket is expanding in the U.S. by acquiring QCX, a regulated derivatives exchange.
The platform has launched earnings-based markets with Stocktwits, enhancing real-time sentiment analysis.