Kalshi Hits $915M Day, Polymarket Watches From The 24.7% Side Of History 📊

Kalshi's crypto perpetual product scaled from zero to nearly $1 billion in daily trading volume in under 10 days, peaking at $915.1 million on June 9, the single largest session on record for the instrument. Daily volume opened at $106.6 million when the product launched on June 4 and climbed steadily into its June 9 high before cooling to $238.2 million by June 13. Bitcoin contracts drove the bulk of the activity, with Ethereum the next most-traded token as Kalshi broadened coverage to include Solana, XRP, and HYPE. Open Interest on the crypto perpetual product stood at $6.5 million at the time of reporting, equal to 0.0058% of the $112.01 billion in total crypto open interest logged over the past 24 hours.

Kalshi has held its lead over Polymarket in crypto volume market share since May 4. As of June 15, it commanded 75.3% of the segment, roughly $441.8 million, against Polymarket's 24.7%. The crypto volume market share figure captures trading volume tied directly to crypto-linked event contracts over the period. Across all its markets, Kalshi's open interest reached $1 billion this week, exceeding the combined total of Polymarket, Predict.fun, Opinion, and Limitless, and accounting for about 66% of the $1.5 billion recorded market-wide. A climbing trade count has powered the run, reaching 20.2 million trades at the time of reporting.

Prediction markets more broadly have continued to widen their footprint, with total value locked near its highest level in months. Total value locked, which measures the capital traders have committed into open markets at a given moment and held until those events resolve, peaked at $641.36 million on June 4 and has since eased to $499.95 million over the past 24 hours, according to DeFiLlama. Market-wide fees over the past seven days reached $9.22 million, and DeFiLlama now tracks 97 prediction markets across the sector.