Kalshi Says It Took in $1.2B in Trades on the Super Bowl

Summary

Kalshi reported $1.2 billion in trades during the Super Bowl weekend, a dramatic jump from last year driven by culturally focused event contracts and widespread app interest. The platform says trading activity rose 2,700% year‑on‑year, topping earlier estimates of around $900m and drawing heavy action on novelty markets such as which song Bad Bunny would open with ($113m) and who would join him on stage ($47m). CEO Tarek Mansour called the weekend “incredible,” and Kalshi claimed it emerged as a major Super Bowl brand without running an ad.

Key Points

Kalshi executed $1.2bn in trades over the Super Bowl weekend, a 2,700% increase from the year before.
Culture‑adjacent markets performed strongly: $113m on Bad Bunny’s opening song and $47m on his stage partner.
The platform saw an unprecedented surge in app downloads that caused temporary connectivity issues.
Kalshi emphasises it is regulated by the CFTC and has formed a Surveillance Advisory Committee to deter corrupt trading.
Major sportsbooks are responding: DraftKings, Fanatics and FanDuel are building or expanding prediction markets.
Despite growth, Kalshi faces litigation and regulatory scrutiny in parts of the US.

Context and relevance

This outcome underlines a shift in wagering: prediction markets are scaling by monetising culture‑related propositions that traditional sportsbooks often overlook. The $1.2bn figure signals strong consumer appetite for novel markets and suggests prediction platforms could become a significant complement or competitor to conventional sports betting operators — with implications for product strategy and regulation.

Why should I read this?

Short version: if you care about where sports wagering is heading (and who’s grabbing attention), this is the quick read. Kalshi’s Super Bowl haul shows prediction markets aren’t just a novelty — they’re pulling in serious money, forcing incumbents to react and attracting regulatory focus. Five minutes well spent.