An LED sphere screen shows information on different Polymarket trades inside The Situation Room, a pop-up bar in Washington, D.C. (Théo Marie-Courtois/AFP via Getty Images) Prediction markets allow people to trade on the outcome of real-world events, from basketball games to elections. And trading volume on Kalshi and Polymarket – the two leading prediction markets – has increased dramatically since mid-2025. Total volume on prediction markets has grown rapidly since mid-2025 Combined monthly global trading volume on Kalshi and Polymarket, in U.S. dollars Note: Polymarket does not include Polymarket US. Data through April 2026 shown. Source: Pew Research Center analysis of data from The Block, accessed May 2026. PEW RESEARCH CENTER Combined monthly global trading volume on these platforms has risen from less than $5 billion in September 2025 to about $24 billion in April 2026, according to a Pew Research Center analysis of data from The Block , a digital assets media and information firm.…