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Prediction Market Open Interest: Kalshi and Polymarket

Open interest at face value (one dollar a contract), USD, end of each week, stacked

Total $2.0B on Oct 21, 2026the highest in data back to 2022+$2.0B since Jul 24, 2022
Current·Data to Oct 21, 2026

Plays the chart through its history. Pauses are where the data set a record or moved most.

Kalshi: its daily market data report, contracts not yet finalized. Polymarket: Palanor calculation from Polygon chain data, collateral at midnight UTC, including resolved winnings not yet redeemed. Both at one dollar a contract. Polymarket’s U.S. exchange and other venues are not included.

Money committed to event outcomes on Kalshi, the CFTC-regulated U.S. exchange, and on Polymarket, which settles on the Polygon blockchain, week by week. The split shows which venue the big events drew to.

What this chart reads

Sources

Kalshi Open Interest (All Markets, USD). Source: Kalshi daily market data report (one row per contract per day: open interest, daily volume, high, low, status), published on Kalshi's public documents bucket under CFTC reporting rules for designated contract markets. Palanor sums open interest over contracts whose status is not finalized.

Polymarket Open Interest (USD, On-Chain). Source: Palanor calculation from Polygon chain data: the USDC.e (0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174) balance at the last block of each UTC day of the Gnosis Conditional Tokens contract Polymarket uses (0x4D97DCd97eC945f40cF65F87097ACe5EA0476045) plus the NegRisk WrappedCollateral contract that backs multi-outcome markets (0x3A3BD7bb9528E159577F7C2e685CC81A765002E2). Since Polymarket's April 2026 upgrade users trade in pUSD, which the exchange unwraps to USDC.e before minting positions, so the same two balances still hold the collateral. Read with standard blockchain calls; no Polymarket data product is used.

Charts are drawn from Palanor's signal library and recomputed from source data on every view. Transformations (changes, indexing, year-on-year rates) are Palanor's.

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