Reports / Q2 2025
Quarterly report
Q2 2025: $5.89B traded on prediction markets
Notional volume across 3 exchanges was $5.89B in the second quarter of 2025 (April to June), down 9% from Q1 2025. Polymarket led with a 67.5% share. The busiest day was Tue Jun 3, 2025, at $144M.
Exchanges
Ranked by the quarter's volume. Share change is against Q1 2025.
| # | Exchange | Volume | Share | vs Q1 2025 | Share change |
|---|---|---|---|---|---|
| 1 | Polymarket | $3.98B | 67.5% | −29% | −18.8 pts |
| 2 | Kalshi | $1.91B | 32.4% | +116% | +18.7 pts |
| 3 | ForecastEx | $5.7M | 0.1% | 5.1× | +0.1 pts |
By month
| Month | Volume | Daily average | Leader |
|---|---|---|---|
| April 2025 | $1.77B | $59.0M | Polymarket (74.0%) |
| May 2025 | $2.00B | $64.5M | Polymarket (66.7%) |
| June 2025 | $2.12B | $70.7M | Polymarket (62.9%) |
What traded
At exchanges that publish a split.
Busiest days
- Tue Jun 3, 2025: $144M
- Sun May 18, 2025: $122M
- Mon Apr 28, 2025: $107M
- Sun Jun 22, 2025: $97.3M
- Tue Apr 29, 2025: $93.1M
Q2 2025: questions
How much volume did prediction markets trade in Q2 2025?
$5.89B in notional volume across 3 exchanges, $64.7M a day, down 9% from Q1 2025.
Which prediction market had the most volume in Q2 2025?
Polymarket. The top three were Polymarket (67.5%), Kalshi (32.4%), ForecastEx (0.1%).
How fast is prediction market volume growing?
Q2 2025 volume was $5.89B, down 9% on the quarter. Growth includes exchanges that opened during the period.
What share of Q2 2025 prediction market volume was sports?
75% at the exchanges that publish a split, including 0% in combos (parlays). Non-sports markets were 25%.
Notional volume: contracts traded × each contract's payout, from each exchange's own daily report. Download every day as CSV · Methods · All reports