More than three-quarters of Kalshi’s trading volume now comes from sports, data analyzed by InGame shows, raising questions about Kalshi’s attempts to distance itself from the notion that it’s a gambling platform.
New figures show that sports events now easily eclipse non-sports events on Kalshi, even on quiet days for sporting activity. They show that Kalshi’s reliance on sports exceeds even that of sportsbook giants DraftKings or FanDuel.
InGame analyzed every trade reported by Kalshi for the 82-day period between Feb. 25 — the earliest date for which data was available — and May 17. Data for April 1 was not available.
Analysis of the millions of trades, with volume exceeding over a billion dollars during this time period, shows how sports event contracts have rapidly grown to monopolize activity on Kalshi.
