Kalshi Overtakes Polymarket in Record October Trading Volume Amid Mainstream Integration
Prediction markets saw unprecedented activity in October 2025 as Kalshi surged past Polymarket with $4.39 billion in notional trading volume. The Robinhood-integrated platform capitalized on sports betting markets and frictionless access for traditional investors, while its crypto-native competitor recorded $3.02 billion despite reaching 477,850 active traders - a new milestone.
Polymarket's planned POLY token airdrop and U.S. relaunch strategy failed to offset Kalshi's structural advantages last month. Both platforms experienced technical outages during peak trading periods, highlighting scaling challenges as regulatory scrutiny intensifies over gambling classification concerns.