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Kalshi

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Key Metrics

DEX Volume 30d$15.936b
DEX Volume 30d by chain

Off Chain$15.936b

DEX Volume 7d$3.957b

Off Chain$3.957b

DEX Volume 24h$687.29m

Off Chain$687.29m

Cumulative DEX Volume$96.448b

Off Chain$96.448b

DEX Notional Volume 30d$90.384b
DEX Notional Volume 30d by chain

Off Chain$90.384b

DEX Notional Volume 7d$25.349b

Off Chain$25.349b

DEX Notional Volume 24h$4.765b

Off Chain$4.765b

Cumulative DEX Notional Volume$342.754b

Off Chain$342.754b

Open Interest$1.309b

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 ($369.26m)Rain ($12.81m)Predict Fun ($10.58m)OPINION ($3.06m)Pascal ($2.35m)Sport.fun ($2.04m)PredictStreet ($1.93m)Trueo ($1.87m)Levr Bet ($1.84m)Augur ($1.56m)

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 #96 by TVL. The category holds $415.32m across 131 protocols, and Kalshi accounts for 0% of that total. Similar protocols include Polymarket International, Rain, Predict Fun, OPINION, Pascal, Sport.fun, PredictStreet, Trueo, Levr Bet, and Augur.

How much trading volume does Kalshi process?

Kalshi processed $15.936b in DEX volume over the past 30 days.