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Kalshi leads volume comparison as Hyperliquid outcome markets remain far smaller

Totalis, citing DefiLlama figures for the 30 days to November 2, put Kalshi volume at 16.40 billion dollars, Polymarket US at 3.19 billion dollars and Polymarket International at 2.61 billion dollars, with Hyperliquid HIP-4 outcome markets far smaller at 79.5 million dollars.

Kalshi recorded 16.40 billion dollars in volume over the 30 days to November 2, according to Totalis, which cited DefiLlama figures. The comparison placed Kalshi ahead of both listed Polymarket operations and Hyperliquid HIP-4 outcome markets.

Volumes across the platforms

Polymarket US registered 3.19 billion dollars in volume over the same period, according to Totalis. Polymarket International recorded 2.61 billion dollars, putting the US operation ahead of its international counterpart in this snapshot.

Hyperliquid HIP-4 outcome markets generated 79.5 million dollars in volume. That was far below the billion-dollar totals reported for Kalshi and each of the two Polymarket operations.

A defined trading window

The figures cover a single 30-day period ending November 2. They establish the relative trading volumes for that window, but the supplied summary offers no earlier-period comparison from which to assess growth or changes in the gap between platforms.

What it means for prediction markets

  • Kalshi led the reported comparison: Its 16.40 billion dollars in volume exceeded the totals for each of the other listed operations.
  • Polymarket’s figures are separate: Totalis listed US and International volumes individually, an important distinction when comparing platforms.
  • Volume is not a complete market-quality measure: The supplied figures do not establish liquidity, pricing accuracy or execution conditions for individual contracts.
KalshiPolymarketInfiniti MarketsInfiniti Signals

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    Totalis
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