Étienne Girard
Prediction market platform Kalshi has unveiled a new ecosystem hub in collaboration with Solana and Base, aiming to accelerate both on-chain and off-chain innovation. The company announced the initiative on X, highlighting that dedicated grants will fund development projects across these blockchain networks.
The expansion comes as Kalshi records an upswing in activity. In the past month, the platform reported $875 million in trading volume, while its main rival Polymarket reached $1 billion, according to PRIME Data Dashboard.
Although Kalshi has yet to break the $1 billion monthly milestone, its progress is notable. After a spike during the U.S. election season last November, trading activity cooled significantly. By contrast, Polymarket has achieved billion-dollar months multiple times over the past year.
Regulatory Winds Favor Prediction Platforms
The landscape for prediction markets is shifting, with the Trump administration signaling a more favorable stance toward digital asset innovation. Both Kalshi and Polymarket allow users to place wagers on political outcomes, sports events, and other real-world scenarios, though their operational models differ.
Polymarket recently secured the Commodity Futures Trading Commission’s (CFTC) green light to re-enter the U.S. market after resolving regulatory issues in 2022. That same year, the company agreed to wind down non-compliant markets and prevent U.S. residents from accessing restricted contracts.
To strengthen its U.S. presence, Polymarket acquired derivatives exchange QCEX in July. Reports also suggest it is considering a fundraising round at a $9–10 billion valuation, while Kalshi is said to be approaching a $5 billion valuation.
Kalshi Eyes Sports Betting to Gain an Edge
Backed by Paradigm, Kalshi raised $185 million in June and now appears eager to outpace its rival. One major opportunity lies in sports betting. Last month, Robinhood announced plans to roll out college and professional football prediction markets in partnership with Kalshi, a move that could broaden Kalshi’s user base.
In addition, Kalshi revealed partnerships with content creators focused on high-profile competitive events such as the FIFA World Cup, the League of Legends World Championship, the NBA, and the NFL.
Rising Interest Across the Industry
Kalshi and Polymarket are not the only players eyeing the space. Major names such as Coinbase, Crypto.com, and Underdog are also exploring or developing prediction market platforms, underscoring growing momentum in this sector.
