Kalshi and Polymarket's September trading volume reached $1.44 billion, with the prediction market attracting institutional funds.

Odaily Planet Daily reports that the market continues to heat up, with Kalshi and Polymarket achieving a combined $1.44 billion in trading volume in September, a record high. Both platforms recently announced new rounds of funding: Polymarket raised $2 billion from the Intercontinental Exchange (ICE), bringing its valuation to $9 billion; and Kalshi raised $300 million at a $5 billion valuation.

The funding round created at least one new billionaire, with Polymarket founder Shayne Coplan becoming the youngest self-made billionaire. Data shows that Kalshi's market share rose to 60% in September, reversing the pattern dominated by Polymarket at the beginning of the year.

The two platforms differ significantly in their technical architecture: Kalshi operates off-chain, with data accessible only via an API; Polymarket operates entirely on-chain, with all markets and positions publicly accessible. Analysts believe Kalshi's recent surge in trading volume is partly due to its partnership with Robinhood, which allows users to directly participate in Kalshi's sports prediction markets through its interface. This also signals the accelerated integration of prediction markets into the mainstream financial ecosystem. (The Block)