Prediction market volume reached $123.3 billion in October, with Kalshi accounting for 80%.

Huo Xing Finance reports, according to Artemis data, the total trading volume of prediction markets in October reached $123.3 billion, marking the first time it surpassed $100 billion—a 53.9% increase from September’s record—with 642.9 million trades. Of this, Kalshi accounted for $98.2 billion, or approximately 80%, with 465.5 million trades; Polymarket recorded $20.2 billion in trading volume and 148 million trades. Parlay products driven by the football season were the primary catalyst, making up 67.6% of Kalshi’s monthly trading volume, with most contracts priced under one cent. Kalshi counts trading volume based on the full payout value of $1 per contract, which does not equate to the actual capital invested by traders. Additionally, trading volume for the U.S. midterm elections exceeded $1.4 billion, and Kalshi and Polymarket’s cryptocurrency contracts saw trading volumes exceed $3 billion for two consecutive weeks. Polymarket’s U.S. platform recorded nearly $10 billion in trading volume for October, representing a 15% increase over its previous record.