Kalshi midterm election trading $2.5 billion, approximately 3.4025 trillion won... regulatory proceedings underway separately

Kalshi’s 2026 U.S. midterm election prediction markets have surpassed $2.5 billion in trading volume, exceeding the $1.3 billion recorded across the entire 2024 election cycle by roughly 1.9x. The milestone comes as congressional legislation, a CFTC rule proposal, and state-level lawsuits over sports contracts proceed on separate tracks. Prediction markets let traders take positions on event outcomes, and both Kalshi and Polymarket have hosted contracts tied to congressional control and individual races. The volume gap versus 2024 signals growing demand for event-based hedging and speculation ahead of the midterms. Traders are next watching how the CFTC rulemaking and state litigation resolve, since those outcomes will shape which contracts venues like Kalshi can list.