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Kalshi Surpasses $1 Billion in Super Bowl Trading Volume, Setting Single-Day Record

Prime Highlight

  • Kalshi recorded more than $1 billion in trading volume on Super Bowl Sunday, marking the highest single-day total in its history and a 2,700% jump from last year.
  • CEO Tarek Mansour called the surge a major milestone, saying the platform became one of the most talked-about brands during the Super Bowl without running a TV advertisement.

Key Facts

  • Halftime show contracts drove heavy activity, with over $100 million wagered on Bad Bunny’s opening song and more than $45 million on guest performers.
  • Over the past year, Kalshi conducted around 200 investigations, froze suspicious accounts, and referred certain cases to law enforcement while operating under CFTC regulation.

Background

Kalshi recorded more than $1 billion in trading volume on Super Bowl Sunday, marking the highest single-day total in the company’s history. CEO Tarek Mansour said the figure represents a 2,700% increase compared to the same event last year.

Speaking to CNBC on Tuesday, Mansour described the weekend as a major milestone for the prediction market platform. He said Kalshi became one of the most talked-about brands during the Super Bowl, despite not running a television advertisement. According to him, the company’s product drove the surge in activity.

Much of the trading centered on the halftime show. Contracts tied to performer Bad Bunny generated heavy interest. Bets on his opening song crossed $100 million, while wagers on guest performers during his set exceeded $45 million.

The record-breaking traffic caused technical problems. During the game, some users said their deposits were delayed. Co-founder Luana Lopes Lara posted on social media, saying that customers’ funds were safe but would take longer to process because of high demand.

Kalshi has recently faced criticism along with other prediction markets over concerns about insider trading. In response, the company announced new measures last week to strengthen monitoring and enforcement. Mansour said Kalshi operates under regulation by the Commodity Futures Trading Commission and follows rules similar to major stock exchanges.

Over the past year, the company conducted around 200 investigations, froze suspicious accounts, and referred certain cases to law enforcement for further action.