Kalshi, Polymarket, and Polymarket U.S. recorded a combined $44.8 billion in trading volume in June, marking a 75% increase from May's $25.66 billion, according to The Block's data dashboard. The surge was driven by the FIFA World Cup co-hosted by the U.S., which began on June 11 and became the largest liquidity event the prediction market sector has seen. This June figure represents a tournament-driven step change from earlier monthly totals, which were around $25.7 billion in March and $25.66 billion in May.
World Cup Drives $44.8B Prediction Market Volume in June
The FIFA World Cup co-hosted by the U.S. began on June 11 and quickly became the largest liquidity event the prediction market sector has seen. Kalshi alone processed about $7.4 billion in World Cup trades during the tournament so far, more than its entire March Madness volume. Polymarket's event markets drew roughly $6.4 billion, demonstrating that prediction markets can absorb sustained trading around one recurring subject.
Kalshi Captures 70% Market Share with $31.5B Trading Volume
Kalshi drove most of the increase in June, growing 87% month over month to $31.5 billion. This represents roughly 70% of the total combined volume across the three platforms. Polymarket's international platform and its U.S.-regulated exchange accounted for the remaining share of the $44.8 billion total.
Some trackers put June's total above $50 billion. That figure, using Artemis data, counts additional venues such as the Robinhood-backed Rothera alongside Kalshi and Polymarket, whereas The Block's $44.8 billion covers the two dominant platforms and Polymarket US. A separate $50 billion figure has also circulated: Macquarie's pre-tournament forecast for the total World Cup wagering across the whole event, which is a projection of all betting activity over roughly six weeks.
Trading Volume Overstates Actual Funds at Risk
Trading volume is not the same as money wagered. Prediction market contracts are bought and sold repeatedly before a market settles, so a single dollar can change hands many times and be counted at each step. This means the headline volume overstates the amount actually staked on outcomes.
Prediction Market Volume Compared to Traditional Sportsbook Wagering
Pew Research Center has noted that U.S. legal sportsbooks handled around $14 billion per month in wagers in 2025. That figure measures money bet rather than contracts traded, and is not directly comparable to prediction market volume for that reason. The $14 billion sportsbook figure represents actual funds wagered, while the $44.8 billion prediction market volume includes repeated trading of the same contracts.
FAQ
What was the combined prediction market trading volume in June?
Kalshi, Polymarket, and Polymarket U.S. recorded a combined $44.8 billion in trading volume in June, up 75% from May's $25.66 billion, according to The Block's data dashboard.
Why did prediction market volume surge in June?
The FIFA World Cup co-hosted by the U.S., which began on June 11, drove the surge. Kalshi processed about $7.4 billion in World Cup trades and Polymarket drew roughly $6.4 billion in World Cup-related trading.
How does trading volume differ from money wagered?
Prediction market contracts are bought and sold repeatedly before a market settles, so a single dollar can change hands many times and be counted at each step, meaning the headline volume overstates the amount actually staked on outcomes.
