Kalshi Midterm Trading Volume Passes $2.5 Billion

Kalshi has recorded more than $2.5 billion in trading volume across its markets for the 2026 U.S. midterm elections. The company disclosed the figure in a Nov. 4 recap, according to Crypto.news, which described activity as nearly twice the amount recorded during the previous election cycle.

The comparison base was $1.3 billion in trading during Kalshi’s 2024 election markets. Based on the reported figures, the additional volume amounts to more than $1.2 billion, putting the 2026 total close to two times the 2024 level. Crypto.news also said traders had anticipated Democratic control of both chambers, although the supplied summary does not provide further detail about individual contracts or outcomes.

Only Crypto.news among the two listed outlets directly reports the Kalshi development. CoinCodex’s supplied coverage concerns a separate prediction for SUI and includes no Kalshi volume, comparison-period figure, or commentary on the midterm markets. As a result, the core Kalshi numbers are consistently presented within the Crypto.news report but lack substantive numerical corroboration in the second supplied item.

The development provides a strong example of increased participation in markets tied to a specific political event. Election-linked trading allows market participants to take positions or manage exposure based on expected political outcomes, and Kalshi’s reported growth indicates that these contracts have drawn considerably more activity than the comparable 2024 set.

The broader crypto market context was subdued at the time of the recap. Total market capitalization stood at $2.61 trillion, while the overall market was described as flat. Bitcoin was down 0.10% over 24 hours, and the Fear & Greed Index registered 28, corresponding to fear. The next relevant checkpoints are further trading accumulation and whether the volume continues to build toward the election resolution, with the reported $2.5 billion figure serving as the current benchmark.