The numbers that move the category.
Volume, legality, and platform tearsheets. Updated monthly. Sourced and dated, every figure.
Aggregate monthly volume
Polymarket + Kalshi · notional USD · log of growth from $78m to $13bn+
View full series →
| Month | Volume (USD m) | Note |
|---|---|---|
| 2024-01 | 78 | |
| 2024-02 | 96 | |
| 2024-03 | 142 | |
| 2024-04 | 188 | |
| 2024-05 | 245 | |
| 2024-06 | 312 | |
| 2024-07 | 410 | |
| 2024-08 | 680 | |
| 2024-09 | 1,840 | US election cycle inflection |
| 2024-10 | 3,220 | |
| 2024-11 | 5,140 | Election peak (Polymarket led) |
| 2024-12 | 2,910 | |
| 2025-01 | 3,480 | Kalshi sports contracts gain traction |
| 2025-02 | 4,120 | |
| 2025-03 | 5,280 | |
| 2025-04 | 6,640 | |
| 2025-05 | 7,920 | |
| 2025-06 | 8,410 | |
| 2025-07 | 9,240 | |
| 2025-08 | 10,180 | |
| 2025-09 | 11,420 | NFL season opens |
| 2025-10 | 12,310 | |
| 2025-11 | 12,880 | |
| 2025-12 | 13,240 | Cyclical peak |
| 2026-01 | 11,640 | |
| 2026-02 | 10,810 | |
| 2026-03 | 11,120 | |
| 2026-04 | 10,440 |
State-by-state status board
Sports event contracts on CFTC-registered venues. Status as of May 26, 2026.
Cease-and-desist issued by Nevada Gaming Control Board. Sports contracts geo-blocked.
C&D from NJ DGE; Kalshi obtained federal injunction. Access currently maintained pending appeal.
Attorney general letter to Kalshi; venue contests state authority on federal-preemption grounds.
Ohio Casino Control Commission C&D issued April 2025; litigation pending.
Maryland Lottery and Gaming C&D; appeal scheduled Q3 2026.
Tennessee SWAC issued letter; Kalshi responded asserting CFTC preemption.
C&D from CT Department of Consumer Protection; injunction granted to Kalshi pending appeal.
ADG letter; status unresolved.
IGB inquiry; no formal C&D as of latest update.
Venue tearsheets
The two venues that matter, at a glance.