Kalshi 2025 trading data breaks records: nominal trading volume of $23.8 billion, over 11 times growth year-on-year

【CryptoPush】Forecast Trading Platform Kalshi just announced its 2025 report card, with all metrics hitting record highs, and the growth rate can be described as “outrageous.”

In terms of nominal trading volume, the total annual transaction amount reached $23.8 billion, a staggering 1108% increase compared to last year, nearly 12 times higher. Just in December, $6.38 billion was recorded, setting a monthly record; in the 4th week, a weekly high of $1.7 billion was achieved; and on December 21st, a single-day transaction of $381.7 million broke the daily record.

The number of trades is equally astonishing. Throughout the year, there were 97 million transactions, soaring 1680% year-over-year, equivalent to 17.8 times last year’s total. In December alone, there were 27.67 million trades; in the 4th week, 7.6 million; and on December 21st, 1.5 million, with each figure continuously breaking records.

However, the growth rate of open interest is relatively “moderate.” The total open interest for the year reached $225 million, an increase of 169% (about 2.7 times), but a peak of $533 million was already reached on March 9th. Looking at the timeline, the highest monthly open interest was in February, and the weekly open interest in the first week of March was also just over $500 million.

From the perspective of total contracts, a total of 23.8 billion contracts were traded throughout the year, with growth multiples consistent with the trading volume (1108%). The last few weeks of December were especially hot: 6.38 billion contracts monthly, 1.7 billion weekly, and 382 million on a single day. The data reveals a signal — the prediction trading market experienced exponential expansion last year, especially with a noticeable increase in trading enthusiasm at the end of the year.