In the world of political prediction markets, there’s Polymarket, and then there’s everyone else. The crypto-based platform founded by Shayne Coplan now commands an estimated 93% of all political prediction market volume.
The numbers tell a lopsided story. In a recent week, Polymarket recorded roughly $507 million in political market volume. Its closest competitor, Kalshi, managed $16.8 million over the same period. That’s a 30-to-1 ratio.
How Polymarket built a political betting empire
Politics accounts for 32% of Polymarket’s total volume. On Kalshi, that figure is just 4%.
Polymarket International, the offshore version that blocks US users, pulled in $9 billion in volume in April 2026 alone. Its US-regulated counterpart, which operates under CFTC approval, generated only $1.3 billion during the same month.
