Kalshi election market, $729 million in daily trading volume... about 3 times that of the 2024 presidential election

Kalshi’s election-related markets recorded $729 million in single-day trading volume on November 3, 2026, roughly three times the approximately $244 million traded on U.S. election day in November 2024, according to figures shared by Paradigm co-founder Matt Huang. The contracts cover which party controls the House and Senate as well as individual race outcomes, and the volume figure reflects trading activity rather than user counts, new capital inflows, or predictive accuracy. The comparison matters because it suggests prediction markets are drawing substantially more activity around midterm elections than they did during the 2024 presidential cycle. DeFi Rate reported that the four platforms it tracks saw $103.87 million in U.S. midterm election volume over the first 20 days of October.