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Kalshi

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Key Metrics

DEX Volume 30d$14.752b
DEX Volume 30d by chain

Off Chain$14.752b

DEX Volume 7d$3.563b

Off Chain$3.563b

DEX Volume 24h$477.1m

Off Chain$477.1m

Cumulative DEX Volume$89.207b

Off Chain$89.207b

DEX Notional Volume 30d$73.269b
DEX Notional Volume 30d by chain

Off Chain$73.269b

DEX Notional Volume 7d$19.186b

Off Chain$19.186b

DEX Notional Volume 24h$2.324b

Off Chain$2.324b

Cumulative DEX Notional Volume$298.211b

Off Chain$298.211b

Open Interest$1.337b

Total Raised$3.885b

Jun 25, 2025$185mRound: Series CInvestors: Paradigm, Sequoia Capital, Multicoin Capital, Neo, Bond

Oct 10, 2025$300mRound: Series DInvestors: Sequoia Capital, a16z crypto, Paradigm, CapitalG, Coinbase Ventures

Nov 20, 2025$1bRound: Series EInvestors: Paradigm, Sequoia Capital, a16z crypto, Neo, CapitalG, Anthos Capital

Mar 19, 2026$1bRound: Investors: Coatue

Apr 3, 2026$1.2bRound:

May 20, 2026$200mRound: Series FInvestors: Baillie Gifford, Layer Global

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Protocol Information

Kalshi is a CFTC-regulated event derivatives exchange where users trade binary contracts (yes/no) on real-world outcomes

WebsiteX/TwitterExchange profile
Category:Prediction Market

Methodology

DEX Volume: Volume of all spot token swaps on the DEXView code on GitHubNotional Volume: Notional volume of all trades on protocolView code on GitHub

Competitors

Polymarket International ($352.76m)Rain ($17.26m)Predict Fun ($11.13m)OPINION ($3.15m)Sport.fun ($2.22m)Pascal ($1.95m)Augur ($1.94m)Levr Bet ($1.84m)PredictStreet ($1.34m)Overtime ($1.32m)

Frequently asked questions

What chains does Kalshi operate on?

Kalshi operates on Off Chain.

How does Kalshi's TVL compare to similar protocols?

Among Prediction Market protocols tracked by DefiLlama, Kalshi ranks #93 by TVL. The category holds $402.95m across 127 protocols, and Kalshi accounts for 0% of that total. Other leading protocols include Polymarket International, Rain, Predict Fun, OPINION, Sport.fun, Pascal, Augur, Levr Bet, PredictStreet, and Overtime.

How much trading volume does Kalshi process?

Kalshi processed $14.752b in DEX volume over the past 30 days.