Polymarket, Kalshi Top $150B Combined Lifetime Volume

Polymarket and Kalshi reached a combined lifetime trading volume of $150 billion through April. The figure totals contracts bought and sold on both platforms since each launch.

The $150 billion number is a cumulative total, not a single-month measure. It sums trades across event-based markets on both sites through the end of April.

Polymarket operates blockchain-based markets that settle in cryptocurrency. Kalshi runs a regulated exchange that offers event contracts to U.S. customers under financial-market oversight.

Both platforms list markets tied to elections, economic indicators and corporate events. Trading activity tends to increase around high-profile dates, which can raise volume on individual markets and the platforms overall.

Prediction markets in the U.S. and abroad have faced regulatory scrutiny and differing treatment. Polymarket has previously altered operations and its product mix in response to regulatory questions; Kalshi operates under rules that apply to event contracts.

Platforms report lifetime volume to show accumulated trading and liquidity over time. The combined $150 billion provides a single metric for comparing trading on these two event-based marketplaces through April.