A year ago, Kalshi was pulling roughly 1 million US website visits per month. By July 2026, that number hit 15.4 million, according to Similarweb data. That’s a 1,520% increase.
The traffic surge tells only half the story. Kalshi’s notional trading volume in August clocked in at approximately $40 billion, up roughly 4,500% from $874 million a year earlier. The New York-based prediction market platform now accounts for about 79% of the entire industry’s $50.7 billion in monthly volume, per Dune Analytics data.
Sports contracts are the engine
Contracts tied to sporting events made up 83% of Kalshi’s July trading volume, transforming the platform from a niche political forecasting tool into something that looks a lot more like a mainstream betting operation.
New Jersey has escalated the debate all the way to the US Supreme Court, petitioning the justices to clarify whether states have authority to regulate prediction-market sports contracts under existing gambling laws. Michigan is pursuing its own restrictions, and Nevada’s gaming regulators have raised similar concerns. Kalshi operates under the oversight of the Commodity Futures Trading Commission, which classifies its offerings as event contracts rather than wagers.
