Reports / December 2025
Monthly report
December 2025: $12.56B traded on prediction markets
Notional volume across 6 exchanges was $12.56B, +19% from November. Kalshi led with a 52.4% share. The busiest day was Sun Dec 21, 2025, at $615M.
Exchanges
Ranked by the month's volume.
| # | Exchange | Volume | Share | vs prior month |
|---|---|---|---|---|
| 1 | Kalshi | $6.58B | 52.4% | +13% |
| 2 | Polymarket | $5.31B | 42.3% | +22% |
| 3 | Crypto.com | $380M | 3.0% | +13% |
| 4 | ForecastEx | $197M | 1.6% | +194% |
| 5 | Polymarket US | $84.8M | 0.7% | 43.2× |
| 6 | Gemini | $1.4M | <0.1% | new |
What traded
At exchanges that publish a split.
Sports, single-leg 82%Combos (parlays) 9%Non-sports 9%
Daily average: $405M over 31 days
Busiest days
- Sun Dec 21, 2025: $615M
- Sun Dec 28, 2025: $594M
- Sun Dec 7, 2025: $576M
- Sun Dec 14, 2025: $563M
- Sat Dec 20, 2025: $549M
December 2025: questions
How much volume did prediction markets trade in December 2025?
$12.56B in notional volume across 6 exchanges, up 19% from November. That is $405M a day on average.
Which prediction market had the most volume in December 2025?
Kalshi. The top three were Kalshi ($6.58B, 52.4%), Polymarket ($5.31B, 42.3%), Crypto.com ($380M, 3.0%).
How much prediction market volume was sports in December 2025?
91% at the exchanges that publish a split, including 9% in combos (parlays). Non-sports markets were 9%.
Notional volume: contracts traded × each contract's payout, from each exchange's own daily report. Download every day as CSV · Methods · All reports