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Kalshi Tops $5 Billion in Daily Trading Two Days Running, Mostly on Parlays

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Kalshi Tops $5 Billion in Daily Trading Two Days Running, Mostly on Parlays

Kalshi traded more than $5 billion in notional volume on both Saturday and Sunday, a first for the prediction market on consecutive days. Its daily data files show $5.33 billion and $5.36 billion, both above its previous record of $5.30 billion.

Combos, the exchange's multi-leg contracts that work like a parlay, made up 75.6% of Saturday's volume and 74.6% of Sunday's. In July they were 36% of contracts traded on Kalshi and carried an average implied probability of 9%, against 43% for other contracts, a Bloomberg analysis showed.

The weekend followed a filing on Friday in which the American Gaming Association (AGA), the casino industry's trade group, told a federal appeals court that those combos are ordinary sports parlays.

The October 24 peak lasted two weeks. Kalshi's record day has grown more than fourfold since the summer. The exchange first passed $1 billion in a single day in June, when World Cup markets lifted a Sunday to $1.236 billion, according to DeFi Rate.

DeFi Rate reported a first $3 billion day on September 20, and Bitcoin.com News counted $3.96 billion on October 11. Sunday's $5.36 billion is about 4.3 times the June mark, by FinanceMagnates.com's calculation.

The wider market grew with it. Combined monthly taker volume at Kalshi, Polymarket and Polymarket's US venue reached $172.4 billion in the third quarter, against $98.5 billion in the second, FM Intelligence calculations show.

Notional volume values every contract at its full $1 payout, not at the price a trader paid.



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