DefiLlama, the go-to dashboard for tracking decentralized finance metrics, just did something that would have been unthinkable two years ago. It added a centralized, CFTC-regulated prediction market to its revenue tracker.
Kalshi, the event derivatives exchange best known for letting people bet on everything from election outcomes to sports results, now sits on DefiLlama’s off-chain revenue dashboard. The numbers it brought with it are hard to ignore: roughly $4.84 million in daily revenue, $16.14 million over the past 30 days, and an annualized run rate near $197 million.
The numbers that earned Kalshi a seat at the table
Kalshi’s 30-day trading volume clocks in at $5.865 billion. Its open interest sits around $597 million. Cumulative volume on the platform has crossed $34.8 billion.
Kalshi doesn’t have a token. There’s no governance vote, no airdrop speculation, no liquidity mining program inflating activity. The platform’s revenue comes from actual trading fees on binary contracts.
