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Kalshi

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Key Metrics

DEX Volume 30d$14.677b
DEX Volume 30d by chain

Off Chain$14.677b

DEX Volume 7d$3.591b

Off Chain$3.591b

DEX Volume 24h$472.42m

Off Chain$472.42m

Cumulative DEX Volume$89.68b

Off Chain$89.68b

DEX Notional Volume 30d$73.465b
DEX Notional Volume 30d by chain

Off Chain$73.465b

DEX Notional Volume 7d$19.662b

Off Chain$19.662b

DEX Notional Volume 24h$2.656b

Off Chain$2.656b

Cumulative DEX Notional Volume$300.867b

Off Chain$300.867b

Open Interest$1.416b

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 ($351.29m)Rain ($16.22m)Predict Fun ($10.94m)OPINION ($3.13m)Sport.fun ($2.23m)Pascal ($1.94m)Augur ($1.89m)Levr Bet ($1.84m)PredictStreet ($1.34m)Overtime ($1.25m)

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 $400.07m 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 $14.677b in DEX volume over the past 30 days.