Polymarket hits $5.7B weekly volume
- Prediction markets are trading at multibillion-dollar weekly scale in late April, with DefiLlama-style trackers showing Kalshi and Polymarket combining for about $5.1 billion. - Kalshi accounts for roughly $3.1 billion of that seven-day notional volume, while Polymarket contributes about $2.0 billion and $519.7 million in open interest. - The surge comes as Polymarket’s U.S. app now routes to a CFTC-regulated exchange after its 2022 settlement. (defirate.com)
Prediction markets are now moving about $5.1 billion a week across Kalshi, Polymarket and Polymarket US, according to DefiRate’s live tracker updated April 26. (defirate.com) That total is lower than the $5.7 billion figure in the prompt. DefiRate’s latest snapshot shows Kalshi at $3.1 billion in seven-day notional volume, Polymarket at $2.0 billion, and Polymarket US at $5.9 million. (defirate.com) Polymarket’s side of the market is still large. The same tracker shows $519.7 million in open interest on Polymarket, 46,551 active markets, and 21.4 million weekly transactions. (defirate.com) A prediction market is a venue where traders buy “yes” or “no” contracts tied to an event, and the price acts like an implied probability. On April 26, one of Polymarket’s biggest markets was the April Federal Reserve decision, with $16.4 million in 24-hour volume and $28.4 million in open interest. (defirate.com) The flow is not concentrated only in politics. DefiRate’s category data shows Polymarket generated $93.9 million in 24-hour sports volume, $44.1 million in crypto, $30.8 million in politics and $18.2 million in economics. (defirate.com) Kalshi is now the larger venue by weekly volume in that tracker, and sports are doing much of the work. Its 24-hour sports volume was $208.0 million, with National Basketball Association playoff markets leading the board. (defirate.com) The legal backdrop has changed since Polymarket’s earlier U.S. troubles. In January 2022, the Commodity Futures Trading Commission ordered Polymarket to pay a $1.4 million penalty and wind down noncompliant markets for operating an unregistered event-based binary options venue. (cftc.gov) Polymarket’s current U.S. app says it connects users to Polymarket US, identified as QCX Limited Liability Company, a CFTC-registered designated contract market, and Polymarket Clearing, a registered derivatives clearing organization. The terms also say access may require know-your-customer checks, anti-money-laundering screening and ongoing eligibility reviews. (polymarket.us) That means the story is less about one platform “hitting” a clean $5.7 billion weekly mark than about the whole category operating at a scale above $5 billion a week, with regulated and offshore-style structures now sitting side by side. (defirate.com) (polymarket.us)
