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Kalshi dominates October trading as prediction market turnover climbs

DeFi Rate reports total volume across eight exchanges rose to 120.73 billion dollars in October from 73.58 billion dollars in September, with Kalshi at 98.15 billion dollars and Polymarket US at 14.77 billion dollars.

US prediction-market trading volume totaled 120.73 billion dollars in October across eight exchanges, according to DeFi Rate. That compares with 73.58 billion dollars in September, a reported increase of 64 percent.

Trading concentrated in two venues

Kalshi accounted for 98.15 billion dollars of October volume, according to DeFi Rate. Its total exceeded that of the other seven exchanges combined.

Polymarket US recorded 14.77 billion dollars in volume. Together, Kalshi and Polymarket US represented the vast majority of turnover in the eight-exchange total.

What the figures show—and leave open

The figures, published Nov 8, 2026 at 7:15 AM ET, show a substantial month-to-month expansion in trading. The supplied summary does not identify the other six exchanges or explain what drove the increase.

It also provides no breakdown by contract or event, and no information on trader counts. The volume figures alone therefore do not establish whether growth reflected broader participation or more trading by existing participants.

What it means for prediction markets

  • Venue concentration matters: Kalshi’s volume makes it the dominant exchange in this reported October dataset, with Polymarket US a distant second.
  • Turnover is not a probability signal: Aggregate volume does not reveal which outcomes traders favored or how contract prices changed.
  • Growth needs context: Without contract-level figures or participation data, the reported 64 percent increase cannot establish whether activity expanded broadly across markets.
KalshiPolymarketInfiniti MarketsInfiniti Signals

Sources & attribution

Published
  1. Source
    DeFi Ratedefirate.com
    Publisher
    https://defirate.com
    Source URL
    The feed did not publish this story's article address.

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