Kalshi Inc. said it registered over $1 billion in trades related to the Super Bowl, a record surge that underscored the threat that booming prediction markets pose to traditional gambling companies.
The New York-based startup hosted $871 million in trading on Sunday alone, topping its previous busiest single day by 60%, according to estimates by Bank of America Corp.
Along with Polymarket, Kalshi’s main rival, the two leading exchanges saw nearly $1.2 billion in total trading in Sunday, Piper Sandler analysts said in a Tuesday note to clients. That brought the total for last week to $4.8 billion, a 12% increase from the previous week.
The Bank of America team said that along with the Seattle Seahawks, who soundly defeated the New England Patriots, Kalshi was the day’s big winner.
