Regulation· ★★★· neutral·

Kalshi hits $40B volume and 80% of US prediction market

  • —Kalshi's 30-day volume is $14.1 billion versus Polymarket's $3.1 billion
  • —Kalshi is raising at least $750 million at a $40 billion valuation
  • —Sports accounts for more than 80% of Kalshi's own trading volume
  • —The CLARITY Act failed 49-50, and Polymarket gives it a 7% chance of passing in 2026
Why it matters: Kalshi's case shows a regulated market can grow without new legislation, weakening the argument for the CLARITY Act.
Source: Bitcoin.com
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