Kalshi’s record October leads broad gains across regulated prediction exchanges

Kalshi recorded $98.15 billion in notional trading volume in October, a record for the exchange and an increase of 61.3 percent from September, according to NEXTPredict.

The figures appeared in NEXTPredict reporting published Nov 6, 2026, at 6:45 PM ET, citing an analysis of eight federally regulated exchanges.

Growth extended beyond Kalshi

Combined October volume across those eight exchanges reached $126.64 billion, according to NEXTPredict. Kalshi’s total accounted for most of that activity.

DraftKings’ DKeX, Novig and Underdog each more than doubled their totals, NEXTPredict reported. Those increases put Kalshi’s record alongside substantial growth at other exchanges in the analysis.

Multi-leg combinations drove the increase

Multi-leg combinations accounted for most of Kalshi’s growth, according to NEXTPredict. The breakdown makes that category central to understanding the exchange’s October increase, rather than treating the headline total as an undifferentiated measure of activity.

What it means for prediction markets

• Product mix matters: Multi-leg combinations drove most of Kalshi’s growth, making their contribution important when interpreting the record notional volume.
• Growth was not confined to one venue: DKeX, Novig and Underdog each more than doubled their totals, although Kalshi accounted for most of the combined October volume.
• The scope is specific: The $126.64 billion aggregate covers eight federally regulated exchanges, not necessarily the entire prediction-market sector.