Kalshi

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Key Metrics

DEX Volume 30d$13.288b

DEX Volume 30d by chain

Off Chain$13.288b

DEX Volume 7d$2.908b

Off Chain$2.908b

DEX Volume 24h$475.34m

Off Chain$475.34m

Cumulative DEX Volume$83.967b

Off Chain$83.967b

DEX Notional Volume 30d$61.117b

DEX Notional Volume 30d by chain

Off Chain$61.117b

DEX Notional Volume 7d$14.307b

Off Chain$14.307b

DEX Notional Volume 24h$2.517b

Off Chain$2.517b

Cumulative DEX Notional Volume$269.708b

Off Chain$269.708b

$1.806b

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

Protocol Information

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

Website X/Twitter Exchange profile

Category:Prediction Market

Methodology

DEX Volume: Volume of all spot token swaps on the DEX Notional Volume: Notional volume of all trades on protocol

Competitors

Polymarket International ($333.89m)Rain ($20.81m)Predict Fun ($9.68m)OPINION ($3.22m)Sport.fun ($2.37m)Augur ($2.12m)Levr Bet ($1.88m)Pascal ($1.77m)PredictStreet ($1.54m)Liquidity House ($1.37m)

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 #92 by TVL. The category holds $386.73m across 122 protocols, and Kalshi accounts for 0% of that total. Other leading protocols include Polymarket International, Rain, Predict Fun, OPINION, Sport.fun, Augur, Levr Bet, Pascal, PredictStreet, and Liquidity House.

How much trading volume does Kalshi process?