Kalshi Trading Volume Surpasses $1 Billion on the Super Bowl
Prediction market platform Kalshi saw trading on the Super Bowl surpass $1 billion this year, rising more than 2700% year-on-year.
Speaking on CNBC’s ‘Squawk Box,’ Kalshi’s CEO, Tarek Mansour, called the Super Bowl an incredible weekend, and claimed “Kalshi was the biggest brand of the Super Bowl this year, without running a Super Bowl ad, and the way we achieved that is the product.”
In addition to trading on the game, users were also taking their guesses on the half-time show, with over $100 million traded on what performer Bah Bunny’s opening song would be, and over $45 million was placed on who would perform alongside him.
While trading volume soared, so did the number of users, leading to delays in receiving funds.
Co-founder of Kalshi, Luana Lopes Lara, posted on social media during the game, “Your money is safe, and on the way, it will just take longer to land.”
Mansour also discussed the concerns raised in the past week about its markets during the Super Bowl.
He confirmed that while the risk of insider trading was real, Kalshi had run over 200 investigations during the past year, with some passed onto law enforcement, as it has to follow the same rules as the Nasdaq, as it is a financial institution.
- Kalshi’s trading volume for the Super Bowl LX surpassed $1 billion, a 2,700% year-over-year rise
- The half-time alone performance saw over $145 million in bets placed
- CEO Tarek Mansour called Kalshi the biggest brand of the Super Bowl, despite not running an ad during the game
