October Was a $128 Billion Month
October was not a breakout month for prediction markets. It was a step change. Traders moved $128.0 billion in contracts across the tracked exchanges in October, up 63 percent from September on a like-for-like basis, according to DeFi Rate.
Kalshi did most of it. The exchange handled $95.5 billion over the Oct. 2 to Oct. 31 window, about 76 percent of all volume, and grew 55 percent against the prior 30 days. Polymarket US was second at $14.6 billion, up 62 percent, while Polymarket's international exchange added $5.1 billion.
The growth underneath matters more than the total. Underdog Exchange was the fastest-growing venue, up 161 percent, followed by DraftKings Predictions at 126 percent and Novig at 118 percent. Nine venues now share the board, and the challengers are growing faster than the leader.
The calendar shows why. An average Sunday traded $5.2 billion, more than double an average Monday at $2.4 billion, and the busiest day in the last 60 was Sunday, Oct. 25, at $7.14 billion. Sports took 68 percent of the dollars paid on single markets, with crypto next at 25 percent.
Sources: DeFi Rate
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