Trading revenues of Kalshi totals $15 million within the past 90 days.
U.S.-Based Prediction Market Platform Kalshi Generates Over $15 Million in Revenue
Kalshi, a prediction market platform based in the United States, saw a revenue increase of over $15 million in the 90 days up to May 26, according to InGame estimates. This growth, while substantial, may not be sufficient to support the platform's rumored multi-billion-dollar valuation.
Despite its impressive recent growth, Kalshi's revenue still falls short of even a 1% share of the U.S. regulated sports betting market, which generates approximately $3 billion per month. The figures were calculated by analyzing every trade reported by Kalshi between February 25 and May 25, with data for April 1 unavailable. InGame used Kalshi's fee structure to estimate revenue from these markets.
Kalshi, well-known for its success around major political events, currently values at about $787 million. In 2024, the company's revenue surged by around 1,220% from the previous year, reaching about $24 million. The surge was primarily driven by trading volumes related to the 2024 U.S. presidential election, following court approval close to the elections.
In addition to political events, Kalshi has expanded into sports-related event contracts, generating hundreds of millions of dollars in trading volume for sports prediction markets as of early 2025. However, the platform's federally regulated exchange model for event contracts, which distinguishes it from traditional sportsbooks, has led to regulatory scrutiny in states like Illinois and New Jersey.
Robinhood, a popular retail trading platform, launched a Sports and Policy prediction market hub powered by Kalshi in March 2025, signaling potential expansion into new audiences. Despite regulatory challenges, Kalshi's unique federally regulated model allows it to differentiate itself in the sports betting industry.
In conclusion, Kalshi's recent growth rate is extraordinary, with revenues increasing over 1,200%. However, its current revenue remains relatively modest compared to the larger U.S. sports betting market. The company's unique, federally regulated model sets it apart from traditional sportsbooks, indicating potential for further growth in the rapidly expanding sports prediction sector.
Kalshi's unique federally regulated model, which allows it to differentiate itself in the sports betting industry, may lead to potential expansion in investing sectors aside from sports, such as finance and technology. The substantial revenue growth of Kalshi could attract attention from businesses looking to capitalize on the rising demand for prediction markets, potentially opening new avenues for financing and long-term investing.
