Crypto Contracts Accounted for $7.3B of July Prediction Market Volume

Crypto contracts generated about $7.3 billion in July, the second-largest category within $52.99 billion in total prediction-market trading.

Kalshi recorded $6.10 billion in crypto volume. Polymarket International and Polymarket US together accounted for $1.15 billion. The combined total includes activity on Polymarket US.

Sports contracts generated about $42.01 billion, or 79.3% of the month’s volume. That included $31.40 billion on Kalshi and $10.62 billion across Polymarket’s platforms. Political contracts totaled about $896 million, or 1.7%, with $169.2 million on Kalshi and $726.8 million on Polymarket. Crypto activity therefore exceeded political trading but remained well below sports.

Combined volume was $25.66 billion in May and $47.75 billion in June, then rose about 11% in July. The FIFA World Cup began June 11 and ended July 19, overlapping the period covered by July’s sports-market figures. Crypto trading adds a category breakdown to earlier coverage of July’s sports-led volume.

The volume measure assigns a $1 notional value to each contract traded by a taker, regardless of the transaction price. It measures contract activity, not cash deposited, trader profits or open positions.

July’s combined-volume figure was $50.59 billion in August and $52.99 billion in September, a difference of about $2.4 billion.