Nah, Kalshi has a fee accumulator to prevent rounding-up from costing you more than 1c per market. So it's maybe losing $26.13/day not $432/day. Likely just someone farming volume for a higher rate limit tier if I had to guess!
Kalshi did $15.3 billion in notional volume last week. About 60% -- or $9.1 billion -- of that volume was on parlays, which are almost entirely based on sports events.
My read is it's going to be increasingly difficult to frame this as non-gambling activity.
Data per @TickerTracker_
It was a gigantic weekend for prediction markets, with total contract volume reaching $7.64 billion for Saturday and Sunday combined across tracked platforms.
That's up 20% from $6.34 billion last weekend.
Note: Underdog's numbers include only its native volume via Underdog Exchange.
Its total platform volume for the weekend (including trades routed through other exchanges) was $182 million, putting it ahead of Novig on the leaderboard.
data.underdogexchange.com/
Kalshi had more than $3 billion(!) in single-day contract volume for the first time on Saturday, beating its own record for the fourth time this month.
Saturday was also a record day of volume for:
- Polymarket US ($440M)
- CDNA ($130M)
- Novig ($87.5M)
- ProphetX ($13.6M)
Underdog also had a platform record at $96.1M, but only about half of that was routed through Underdog Exchange.
The past two days were Kalshi's two biggest trading days of all time, with a combined $4.9 billion in contract volume.
Cowboys/Giants on SNF was bigger than any regular-season game last year.
Kalshi alone recorded just under $3 billion in combos volume for Saturday and Sunday combined.
- 56% of combo contracts included a football leg
- Four NFL games appeared in more than $1B of combos
- Player props made up 44% of Sunday's combo legs
NFL trading was lighter for the less-competitive SF/LAR game on Thursday night, around $97 million.
Moneyline trades were < half of the total game volume.
Stats for last night's NFL opener on Kalshi:
- $105 million in notional volume
- Largest regular-season game ever
- Fourth-largest NFL game ever
- Moneyline was 56% of overall volume
- Anytime TD prop > Game Total market
Saturday was the most-bet day in Kalshi history, with a record $2.3B in notional trading volume. Nearly 60% came from parlays.
Just 7 days in, September 2026 already ranks Top 7 all-time in monthly volume, per @TickerTracker_.