Prediction markets trade $119.0B in contracts over the last 30 days, with Kalshi handling 76%, DeFi Rate reports
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Prediction markets recorded $119.0B in contract volume over the last 30 days, with Kalshi accounting for 76%, according to DeFi Rate. The figures distinguish the face value of contracts traded from the dollars participants actually paid.
Face value versus trading spend
DeFi Rate measures contracts at their $1 face value. On that basis, the $119.0B headline total compares with $28.7B in dollars actually paid over the same 30-day period. Those are separate measures of activity, not interchangeable estimates of spending.
Kalshi’s 76% share places most of the reported contract volume on one platform. That percentage describes its share of the headline activity measure; the supplied material does not separately identify Kalshi’s share of dollars paid.
DeFi Rate also reports $5.7B for the last 24 hours. The supplied excerpt does not explicitly identify whether that shorter-period figure uses face value or dollars paid, limiting direct comparisons with the two 30-day totals.
What it means for prediction markets
Measurement matters: The $119.0B total reflects contracts valued at $1 each, while $28.7B represents dollars actually paid. Readers should retain that distinction when comparing activity figures.
Volume is concentrated: Kalshi handled 76% of reported 30-day contract volume, making its activity central to the aggregate.
The daily figure needs context: The $5.7B reading alone does not establish whether trading is accelerating; a clearly comparable measure is needed.