Trading volume on prediction markets

Prediction market trading volume has risen from under $5 billion monthly in mid 2025 to nearly $24 billion in April 2026, with sports dominating.

1. Frame 1Kalshi and Polymarket turn event contracts into a $24B April market for sports fans, traders, and regulators.
2. Frame 2That April volume topped the average $14B wagered monthly through legal U.S. sportsbooks in 2025.
3. Frame 3The mechanism is simple: buy a yes/no contract from $0 to $1, then get $1 if the event resolves your way.
4. Frame 4The turn came fast: combined monthly volume was below $5B in September 2025 and about $24B by April 2026.
5. Frame 5Sports drive the machine: 80% of Kalshi volume and 39% of Polymarket volume since July 2024.
6. Frame 6Next market test: whether sports, politics, and crypto keep concentrating trading after April's $24B month.