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Kalshi’s third-quarter cash volume outpaces combined Polymarket platforms

Kalshi recorded 37.3 billion dollars in cash trading volume in the third quarter of 2026, up 75.8 percent quarter over quarter and 2.6 times the combined total of Polymarket International and Polymarket US, capturing 72.4 percent of combined cash volume across the three platforms.

Kalshi generated 37.3 billion dollars in cash trading volume in the third quarter of 2026, according to HTX. That represented a 75.8 percent increase quarter over quarter.

Volume concentrated among three platforms

Kalshi accounted for 72.4 percent of the combined cash trading volume across Kalshi, Polymarket International and Polymarket US, according to HTX.

Its quarterly volume was 2.6 times the combined total of Polymarket International and Polymarket US. The comparison places Kalshi ahead of those two platforms together, rather than measuring its lead against either one individually.

Scope of the figures

The figures describe cash trading activity during the third quarter of 2026. The 72.4 percent share applies specifically to the three-platform comparison; it is not a measure of every prediction-market venue.

What it means for prediction markets

  • Relative scale: Kalshi handled the majority of cash volume across the three platforms in the comparison.
  • Quarterly growth: The 75.8 percent increase shows a substantial expansion in Kalshi’s trading activity from the preceding quarter.
  • Limits of the data: The supplied figures do not establish how volume was distributed among individual markets or how the platforms compared on liquidity, pricing or user numbers.
KalshiPolymarketInfiniti MarketsInfiniti Signals

Sources & attribution

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    HTX
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