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Kalshi election activity expands as midterm notional volume exceeds $2.5 billion

Kalshi reported more than 2.5 billion dollars in total notional trading volume across its election markets during the 2026 midterm cycle, against 1.3 billion dollars during the 2024 election cycle. Polymarket generated roughly 600 million dollars across more than 7,000 election-related markets in the same cycle.

Kalshi reported more than $2.5 billion in total notional trading volume across its election markets during the 2026 midterm cycle, according to iGamingPost. That compares with $1.3 billion during the 2024 election cycle.

The figures put Kalshi’s 2026 midterm activity at nearly twice its 2024 level, measured by notional trading volume.

Platform totals show a substantial gap

Polymarket generated roughly $600 million across more than 7,000 election-related markets during the same cycle, according to iGamingPost.

The reported totals place Kalshi well ahead of Polymarket on election trading volume. Polymarket’s market count also provides a measure of its election offering’s breadth, although the supplied summary does not include a comparable count for Kalshi.

What it means for prediction markets

  • Activity increased at Kalshi: The comparison with 2024 shows substantially greater notional turnover during the 2026 midterm cycle.
  • Volume is not a participation count: These totals do not establish how many traders participated or how much unique capital they committed.
  • Market-level comparisons remain limited: Aggregate volume and Polymarket’s market count do not show how trading was distributed across individual contracts or how accurately those contracts priced outcomes.
KalshiPolymarketElectionsMidtermsInfiniti MarketsInfiniti Signals

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    iGamingPost
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