Kalshi leads nine venues as contract turnover reaches $134.0 billion

Prediction markets recorded $134.0 billion in contract trading over the last 30 days across nine venues, according to DeFi Rate. The figures were published Nov 7, 2026, at 8:15 AM ET.

Kalshi accounts for most activity

Kalshi handled $102.6 billion of that contract volume, representing 76 percent of the total, according to DeFi Rate. That puts the venue at the center of the reported trading activity.

Polymarket US followed with $15.5 billion in contract volume. The comparison places it behind Kalshi within the nine-venue tally.

Contract volume differs from amounts paid

DeFi Rate reported $31.3 billion actually paid over the same 30-day period, compared with the $134.0 billion contract-volume total. Those are distinct measures: the headline turnover figure should not be read as the amount participants paid.

The supplied summary does not explain how either measure was calculated or provide a venue-level breakdown of amounts paid. It therefore supports a comparison of reported contract activity, but not a corresponding comparison of payments across platforms.

What it means for prediction markets

• Activity is concentrated: Kalshi’s reported 76 percent share means it accounted for most contract turnover across the nine venues measured.
• The metric matters: The $134.0 billion in contract volume and $31.3 billion actually paid describe different aspects of activity and should remain separate.
• Turnover is not a probability signal: These aggregate figures do not establish the odds of any particular event or show how much liquidity individual contracts offer.