Kalshi and Polymarket Global combined for $14.10 billion in contract volume during the Sept. 7-13 week that opened the NFL regular season, according to a DeFi Rate volume report. That was up 9.3% from $12.90 billion the previous week, with football, US Open tennis, esports playoffs and Federal Reserve positioning among the main drivers of activity.
Kalshi Widens Its Lead
Total trades across both platforms climbed 10.7% to 86.50 million. Kalshi generated $12.98 billion of the combined volume, up 9.4% week over week, giving it a 92.1% share, a record for the platform. Polymarket Global rose 7.6% to $1.11 billion, or 7.9% of the total, while Polymarket US logged $818.52 million across its five available daily reports.
Sports contracts were the largest source of retail trading activity during the week, with Kalshi and Polymarket Global combining for $3.76 billion. Kalshi accounted for $3.265 billion, while Polymarket Global’s sports volume jumped 104.7% to $498.81 million. On Kalshi, the New England-Seattle market generated $57.86 million. Other high-volume NFL markets included San Francisco-Los Angeles at $45.30 million and Washington-Philadelphia at $28.48 million.
A Sixth Straight Week of Growth
The Sept. 7-13 result capped a six-week period from Aug. 9 through Sept. 13 in which DeFi Rate reported five consecutive weeks of higher Kalshi volume. Weekly volume increased from $8.069 billion in the week ending Aug. 9 to $12.983 billion in the week ending Sept. 13, a 60.9% increase over the period. Kalshi’s September month-to-date volume through Sept. 13 reached $23.45 billion, 53.4% higher than the same period in August.
Away from football, Polymarket Global’s Fed Decision in September market generated $48.85 million, up 48.8% from $32.83 million the week before. Four League of Legends playoff matches on the same platform combined for more than $38.74 million in weekly volume.
Combos, Open Interest, and the Sportsbook Question
Kalshi’s multi-leg combo contracts, which allow traders to combine several predictions into one position, reached $1.93 billion in volume. That represented 99.4% of the combined $1.95 billion combo market between the two platforms. Open interest as of Sept. 13 stood at 677.18 million contracts on Kalshi, 321.34 million on Polymarket Global and 164.19 million on Polymarket US.
The week’s data also underscored the breadth of activity across sports, economic and esports markets. Kalshi held the larger share of combined volume, while Polymarket Global recorded gains in sports trading and activity around the upcoming Federal Reserve decision.
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