Polymarket Trading Slumps 35% as Post-World Cup Lull Hits Prediction Markets

Polymarket’s monthly trading volume fell to $8.41 billion in August, down about 35% from July’s $12.89 billion, as the post-World Cup rush that drove prediction markets earlier this summer faded.

Rival Kalshi barely flinched, closing the month at $38.67 billion, a gap that shows how unevenly the slowdown hit the two biggest platforms in the space.

Polymarket’s Volume Cools While Kalshi Holds Steady

According to data compiled by The Block, Polymarket’s combined volume, its core platform plus the separate Polymarket US product, ran $13.95 billion in June, dipped modestly to $12.89 billion in July, then dropped to $8.41 billion in August.

The core Polymarket platform did most of the falling, sliding from $7.89 billion in July to $4.59 billion in August, while Polymarket US held up better, going from $5 billion to $3.82 billion.

Kalshi’s numbers moved in almost the opposite direction. It closed June at $33 billion, climbed to $40.1 billion in July, and only eased back to $38.67 billion in August, a drop of roughly 4%. The gap between the two platforms has widened: Kalshi now processes close to five times Polymarket’s monthly volume, based on the same figures.

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