Kalshi set consecutive daily volume records on October 10 and 11, 2026, with $3.91 billion and $3.96 billion in notional volume respectively. Approximately 70% of this activity came from combo contracts similar to parlays, often priced below one cent. Weekly volume reached $19.03 billion from October 5 to 11, while 30-day volume exceeded $73 billion. NFL and NCAA football seasons have been the main driver of this activity, while the platform faces ongoing regulatory scrutiny over the classification of its contracts. The actual risk absorbed by traders is considerably lower than the headline figures suggest, as notional volume counts total potential payout value rather than actual cash committed.
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