Gate News message, April 27 — According to Spencer Bogart, a partner at Blockchain Capital, Kalshi and Polymarket have nearly identical total trading volumes of approximately $12.2 billion each (Kalshi at $12.29 billion, Polymarket at $12.22 billion). However, when sports-related trades are excluded, Polymarket’s non-sports volume stands at $7.5 billion, while Kalshi’s is only $1.6 billion.
The stark difference highlights the divergent market positioning of the two prediction market platforms. Despite their distinct strategies and user bases, both platforms continue to be grouped within the same category in industry discussions.
Bogart’s analysis underscores how trading volume distribution varies significantly between the platforms when segmented by market category.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Research reveals: Polymarket players take home 30% of profits by winning 3% of the positions—more than 70% of players absorb all losses
A new study analyzes Polymarket’s trading records from 2023–2025 and shows that only 3.14% of experienced winners control more than 30% of the profits. Crowd participation alone is not enough to explain overall accuracy; at the same time, it tracks 1,950 highly suspicious insider trading accounts that, while not driving predictions, amplified price volatility. The case shows that large bets were placed and profits were made before the U.S. announced developments regarding Venezuela. The research questions “wisdom of crowds” and emphasizes the need for increasingly strict regulation.
ChainNewsAbmedia43m ago
Polymarket Analysis: Crypto Events Account for 40% of Top 10 Most Volatile Markets
Gate News message, April 27 — Polysights, a third-party prediction market data platform, analyzed over 20,000 Polymarket markets from the past six months and released a volatility ranking. The analysis revealed that cryptocurrency-related markets account for four of the top ten most volatile markets
GateNews1h ago
Polymarket Announces April 28 Upgrade: Collateral Assets Migrated to pUSD, Trading Paused for About 1 Hour
According to an official announcement posted on X on April 27 by Polymarket developers, Polymarket will roll out a full platform infrastructure upgrade at 11:00 UTC on April 28, with trading paused for about 1 hour. This upgrade includes new generation trading contracts, a rebuilt order book, and the introduction of a new collateral token, pUSD. The platform’s existing collateral assets will be migrated from USDC.e to pUSD.
MarketWhisper1h ago
Polymarket Upgrades Platform on April 28, Migrating Collateral from USDC.e to pUSD
Gate News message, April 27 — Polymarket announced it will upgrade its platform on April 28, 2026, at approximately 19:00 UTC, with trading suspended for about one hour during the maintenance window. The upgrade includes a new-generation trading contract (CTF Exchange V2), a reconstructed order book
GateNews3h ago
Study: Only 3% of Polymarket Traders Are Skilled; Minority Captures 30%+ of All Gains
Gate News message, April 27 — A new academic paper analyzing all Polymarket transactions from 2023 through 2025 concludes that the platform's accuracy reflects "the wisdom of an informed minority, not the wisdom of the crowd." The working paper, revised April 25, was authored by Roberto Gómez-Cram,
GateNews5h ago
