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Trading volume on prediction markets has soared in recent months

Kalshi and Polymarket turn event contracts into a $24B April market for sports fans, traders, and regulators

May 27, 9:40 PM EDT Checked against the primary source

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

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

How this was checked

Reporting: Checked against the primary source
Claims: We checked the names, dates, numbers, and core facts against the reporting linked above
Artwork: This is an editorial illustration based on the reporting, not source photography
Published: May 27, 9:40 PM EDT
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