Kalshi and Polymarket recorded a combined $2.7 billion in weekly notional volume for crypto-related contracts, a record reported by the source. Most of the volume went into short-term bets on crypto price moves; the source does not give a calendar date for the record week.
On Kalshi, about $7 billion of its $8.17 billion in crypto volume from September 1 to 28 came from 15-minute markets. Coinbase routes prediction-market users to Kalshi, while Phantom has begun a staged U.S. rollout of in-wallet markets. Phantom trades are funded at Kalshi, and the Kalshi balance does not appear in the wallet. Legal challenges to sports contracts in several U.S. states could make crypto exchanges more cautious about expanding into prediction markets, according to the source’s account of Bloomberg’s reporting.
