Kalshi's Daily Trading Volume Hits $260 Million, Surpassing Election Day Records on Strength of Football

Kalshi, the federally regulated prediction exchange, announced a significant milestone on September 27th, with its daily trading volume reaching $260 million and executing 763,000 trades. This surge, primarily driven by football markets, officially surpassed the platform's previous peak set during the 2024 U.S. Election Day. Kalshi co-founder and CEO Tarek Mansour confirmed the record, stating in a social media post, > "Last night, Kalshi's daily volume has officially surpassed Election Day. Nothing beats football in America."

The company operates as a unique prediction market, allowing users in all 50 states to trade event contracts on various outcomes, a key differentiator from state-restricted traditional sportsbooks. Mansour has previously highlighted this advantage, arguing it provides a legal alternative for sports fans in regions where sports betting is otherwise prohibited. This broad accessibility has contributed to Kalshi processing approximately $9 billion in trades since its 2019 launch, accumulating around three million users.

Football has emerged as a dominant force on the platform, now accounting for over 70% of Kalshi's total trading volume. The company has strategically expanded its offerings by introducing parlay-style event contracts, self-certified with the Commodity Futures Trading Commission (CFTC), specifically tailored for the football season. This move aims to provide a transparent and federally supervised alternative to the broader sports betting market.

Despite its rapid growth, Kalshi faces increasing regulatory scrutiny and public debate regarding the classification of its event contracts. The American Gaming Association (AGA) reports that a significant majority of Americans view prediction markets as gambling products, advocating for state-level regulation rather than federal commodities oversight. Lawmakers and regulators are actively discussing potential oversight gaps, with lawsuits in states like Wisconsin and California challenging Kalshi's operations as infringing on tribal gaming rights.

Mansour remains optimistic about Kalshi's trajectory, having previously expressed ambitions to significantly multiply the platform's trading volume. However, the company's continued ascent will likely depend on navigating these mounting legal challenges and the evolving regulatory landscape surrounding prediction markets in the United States.