Prediction Markets Reach 1.1 Billion Trades in Q3 as Kalshi Leads
The third-quarter count through Sept. 25 surpassed roughly 490 million trades in Q1 and 709 million in Q2, while Kalshi supplied most of the additional activity.
Prediction markets logged about 1.1 billion trades in the third quarter of 2026, setting a record as Kalshi generated most of the increase and widened its lead by number of trades.
The third-quarter count through Sept. 25 was more than twice the roughly 490 million trades recorded in the first quarter and surpassed the approximately 709 million recorded in the second quarter.
Kalshi supplied most of the additional activity during the third quarter, extending its lead among prediction-market platforms by trade count.
The third-quarter figure also far exceeded the roughly 137 million trades recorded in the fourth quarter of 2025.
