Kalshi, Polymarket Score Win as Judge Blocks Minnesota Prediction Market Ban—For Now

The order turns on whether each contract counts as a swap under federal law, and the judge found that not every one does.

The top 3

1. Leading Platforms by Market Share: Kalshi led US-regulated prediction market volume with $12.35 billion in March 2026, while Polymarket led globally with $10.15 billion, together accounting for over 93% of tracked volume.
2. Most Popular Market Categories: Sports, politics, and cryptocurrency are the highest-volume categories, with sports accounting for 80% of Kalshi's volume and 39% of Polymarket's, while crypto and politics combine for 52% of Polymarket's turnover.
3. Industry User Growth Trends: Global prediction market trading volume surged over 400% from 2024 to 2025, reaching nearly $64 billion, with monthly volumes on Kalshi and Polymarket rising to about $24 billion by April 2026.

Sources

• Decrypt
• The Block
• Cointelegraph

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