Polymarket vs Kalshi: Who Actually Wins on Volume and Liquidity
The competition between Polymarket and Kalshi in the prediction market space has shifted significantly. Kalshi has recently surpassed Polymarket in both volume and liquidity, achieving record taker volumes. The platforms differ in their focus, with Kalshi primarily driven by sports betting, while Polymarket maintains a broader range of categories including politics and international events.
- ▪Kalshi recorded a weekly notional volume of $4.13B, while Polymarket fell to $1.60B.
- ▪In April 2026, Kalshi achieved $5.42B in taker volume, surpassing Polymarket's $1.99B for the first time.
- ▪Kalshi's revenue is heavily reliant on sports, accounting for 89% of its fee revenue in 2025.
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try { if(localStorage) { let currentUser = localStorage.getItem('current_user'); if (currentUser) { currentUser = JSON.parse(currentUser); if (currentUser.id === 3950717) { document.getElementById('article-show-container').classList.add('current-user-is-article-author'); } } } } catch (e) { console.error(e); } WB Posted on May 27 • Originally published at weebet.com Polymarket vs Kalshi: Who Actually Wins on Volume and Liquidity #predictionmarkets #polymarket #analysis Originally published on WeeBet on 2026-05-25. Reposted with canonical link. The headline question of which platform "wins" on prediction markets used to have an obvious answer. Through most of 2024 and early 2025, Polymarket led on volume, depth, and cultural mindshare. That story has flipped.
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