Kalshi leads as prediction market contract volume reaches $126.0 billion

Prediction markets recorded $126.0 billion in contract volume during the 30 days to October 31, according to DeFi Rate’s volume tracker. Kalshi accounted for 76 percent of the total across nine venues.

Face value versus money paid

The tracker measured contracts at their one dollar face value. The amount actually paid was $30.0 billion, a separate measure from the headline contract-volume figure.

That distinction matters when interpreting activity: the $126.0 billion total represents the face value of contracts traded, not the amount participants paid for them.

Kalshi expands its lead in volume

Kalshi’s volume increased 55 percent compared with the preceding 30 days, according to DeFi Rate. Polymarket US ranked second, with about 12 percent of tracked volume.

The figures, published Nov 1, 2026, at 8:00 AM ET, put Kalshi well ahead of its nearest competitor for the measured period. They cover activity across the nine tracked venues rather than establishing a total for every prediction market.

What it means for prediction markets

• Measurement matters: The $126.0 billion face-value total and $30.0 billion actually paid describe different aspects of trading activity.
• Volume is concentrated: Kalshi’s 76 percent share substantially exceeded Polymarket US’s approximately 12 percent.
• Growth has a defined window: Kalshi’s 55 percent increase compares two successive 30-day periods; it does not establish a longer-term trend.