October marked the prediction market sector’s best month yet, with leading platforms Kalshi and Polymarket processing a cumulative $7.4 billion in volume, well above their previous record in November 2024, when they processed a total of $4 billion driven by the U.S. Presidential election.

While election markets —primarily the NYC Mayoral Election —are still generating hundreds of millions in volume, other niches, such as sports betting, are boosting volume metrics further. In October, Kalshi processed $4.4 billion, and Polymarket recorded $3 billion in volume, new all-time highs for both venues.

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