Underdog Exchange leads monthly growth while Kalshi retains volume crown
DeFi Rate reports Underdog Exchange traded 2.1 billion dollars in contracts over the last 30 days, up 119 percent from the prior period, the biggest rise of any venue with a full 30 days of data. Kalshi remains the largest venue with 102.6 billion dollars traded over the same window.
Underdog Exchange recorded $2.1 billion in contract trading over the last 30 days, a 119 percent increase from the prior period, according to DeFi Rate.
That was the largest increase among venues with a full 30 days of data. The comparison establishes Underdog Exchange’s lead on growth within that group, rather than across every venue regardless of reporting history.
Growth leadership differs from trading scale
Kalshi remained the largest venue, with $102.6 billion traded over the same window, according to DeFi Rate. Its total was substantially above Underdog Exchange’s despite the latter’s leading growth rate.
The figures, reported on Nov 7, 2026, distinguish two measures of activity: the pace of change and the amount traded. Underdog Exchange led the eligible venues on the former; Kalshi retained the lead on the latter.
What it means for prediction markets
- Growth and size point to different leaders: Underdog Exchange’s 119 percent increase does not displace Kalshi’s $102.6 billion trading-volume lead.
- The comparison has a defined scope: The growth ranking applies only to venues with a full 30 days of data.
- Volume alone leaves questions unanswered: The supplied figures do not establish whether the increase reflects more participants, larger trades or changes in the contracts being traded.
Sources & attribution
- Published
- Source
- DeFi Ratedefirate.com
- Publisher
- https://defirate.com
- Source URL
- The feed did not publish this story's article address.
Full attribution under the Digital Millennium Copyright Act (DMCA), 17 U.S.C. § 512: this article is an original report by Infiniti Intelligence that summarizes the reporting of the publishers named above, links to their original work, and reproduces no protected expression beyond brief factual reference and in-line attribution (“according to DeFi Rate”). All rights in the underlying reporting remain with the publishers listed; nothing here implies endorsement by or affiliation with them. Rights holders may request correction, update or removal through the contact address published at infiniti.w3ai.io.
Related
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- Cleveland wins is priced at 36 cents on Kalshi, down 7 cents, on 57K contracts traded in 24 hours
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