Kalshi posts consecutive $5.3B volume days, topping October record
Kalshi cleared more than $5.3 billion in notional volume on both Saturday and Sunday, the first time the platform has topped $5 billion on back-to-back days. Saturday's total reached $5.33 billion and Sunday's hit $5.36 billion, eclipsing its previous single-day record set in October. The activity was driven mainly by parlay contracts. The weekend surge came days after Kalshi's midterm volume had already climbed past $3 billion by November 9.
The $5.3 billion weekend gives Kalshi its sharpest volume proof yet against state gambling lawsuits in Ohio and Tennessee. State attorneys general there argue event contracts amplify sentiment rather than predict outcomes. Record back-to-back flow plus the 98% midterm accuracy Kalshi and Polymarket score high accuracy in 2026 midterm election markets weakens that claim ahead of likely 2027 proceedings.
Senators Warren and Curtis have already demanded internal trading data under bipartisan deadline. Platform credibility is under direct congressional scrutiny. Millions of retail users entered through media partnerships, exposing more capital than any prior cycle. A clean forecasting record now shifts the burden onto critics to prove gambling classification.