Catenaa, Sunday, December 07, 2025- Centralized and on-chain prediction markets Kalshi and Polymarket closed November with record monthly trading volumes, together surpassing $9.5 billion amid rising retail activity and macro-driven interest.
Kalshi reported $5.8 billion in November volume, a 32% increase from October, marking the platform’s largest monthly gain. Polymarket posted $3.7 billion, up nearly 24% from the previous month, extending a streak of record activity that began in summer.
Both platforms now dominate the global prediction market sector, controlling the majority of monthly activity.
The surge follows broad adoption and regulatory developments. Kalshi doubled its valuation last month after securing $1 billion in fresh funding, reaching an $11 billion market cap.
Polymarket benefited from a mid-November CFTC regulatory nod, allowing a resumption of US operations and expansion of distribution partnerships with Yahoo Finance, UFC, and Google Finance embeds.
Institutional interest is also growing, with Galaxy Digital exploring potential liquidity-provision collaborations. The platforms’ expansions and integrations have accelerated capital formation, transforming prediction markets from niche retail platforms into increasingly institutionalized venues.
The growth reflects heightened demand for real-time event-based trading, with users buying and selling contracts linked to elections, economic data, sports, and other outcomes.
Market participants are leveraging prediction markets to gauge sentiment and hedge risk, reinforcing their role in the broader financial ecosystem.
Kalshi and Polymarket posted nearly $10 billion in November trading volume, setting record highs and highlighting rapid retail adoption, regulatory progress, and increasing institutional interest in prediction markets.
