Kalshi and Polymarket's trading volume reached $1.44 billion in September, as the prediction market attracts institutional funds and accelerates in popularity

ChainCatcher news, according to The Block, the prediction market continues to heat up, with Kalshi and Polymarket achieving a total trading volume of $1.44 billion in September, setting a historical record. Recently, both platforms announced the completion of a new round of financing: Polymarket raised $2 billion from the Intercontinental Exchange (ICE), with a valuation rising to $9 billion; Kalshi raised $300 million at a $5 billion valuation.

This financing has created at least one new billionaire, with Polymarket founder Shayne Coplan becoming the youngest self-made billionaire. Data shows that in September, Kalshi's market share briefly rose to 60%, reversing the dominance previously held by Polymarket at the beginning of the year.

There are significant differences in their technical architectures: Kalshi operates off-chain, with data only accessible via API; Polymarket operates entirely on-chain, with all markets and positions publicly queryable. Analysts believe that Kalshi's recent surge in trading volume is partly due to its partnership with Robinhood, which has allowed users to participate directly in Kalshi's sports prediction market trading through its interface, marking a significant step towards the integration of prediction markets into the mainstream financial ecosystem.