The combined trading volumes on prediction markets Kalshi and Polymarket fell 15% in August, the first decline in more than a year.
Combined monthly trading volumes at Kalshi and Polymarket fell 14.5% to $45.33 billion U.S. during August, the first month-over-month drop in a year.
Kalshi recorded $37.17 billion U.S. in trading volumes in August, while Polymarket saw $8.16 billion U.S. in bets placed on its platform.
More From Cryptoprowl:
Kalshi’s August trading volumes declined 7.3% from July, while Polymarket’s trading volumes were down 36.7% from the previous month.
Prediction markets let people bet on the outcome of real-world events such as sports contests and political elections.
The August decline followed a surge in prediction market activity during the World Cup soccer tournament that took place in North America during June and July of this year.
The August trading volumes, while down, were well above May’s $25.66 billion U.S. in bets that were wagered.
Both prediction markets are gearing up for the NFL football season that kicks off on Sept. 9 and is expected to attract substantial wagering from sports fans.
In the lead-up to the NFL season, both Kalshi and Polymarket have increased their marketing and advertising in the U.S. market.
Kalshi and Polymarket are privately held and their stocks do not trade on a public exchange.
