Kalshi says ‘incredible weekend’ after $145m in bets on Bad Bunny’s opening song and guests during half-time show
Online prediction market Kalshi hit a daily record on Super Bowl Sunday, surpassing $1bn in trading volume, the company announced on Tuesday.
Kalshi’s CEO, Tarek Mansour, called it an “incredible weekend”, telling CNBC that “Kalshi was the biggest brand of the Super Bowl this year, without running a Super Bowl ad”.
Kalshi trading volume during the game was up 2,700% year over year. More than $100m were bets on Bad Bunny’s opening song and $45m on which artists would perform with him on stage. In comparison, the platform saw $27m in total trading volume at last year’s Super Bowl.
Prediction markets like Kalshi allow users to trade on the outcomes of virtually anything, from sports and elections to what color someone will wear during a performance. Unlike casinos or traditional sportsbooks, users effectively bet (or “trade”) against others on the platform, instead of an established “house”, and the platforms earn revenue by charging trading fees.
