Polymarket has fallen behind its main rival Kalshi in terms of global trading volume, according to recent reporting.
Data compiled by Dune Analytics indicates that Kalshi recently surpassed Polymarket in trading activity, after years of dominance by the latter.
In addition, Kalshi has overtaken its rival in valuation after announcing fundraising that valued it at US$22 billion last month. Polymarket was last valued at US$15 billion following a US$600 million investment from financial services company Intercontinental Exchange.
Operational delays and US market challenges are reportedly behind the shift in trading volumes. According to Bloomberg, Polymarket has faced product delays, including postponed upgrades, as well as disruptions to trading.
