Prediction Markets Hit Record $6.5 Billion Week as Kalshi and Polymarket Surge

Prediction markets recorded their strongest week on record, with total industry weekly notional volume crossing $6.5B. Kalshi led the surge with $3.54B in volume and now controls roughly 90% of the U.S. market. On Polymarket, 5-minute and 15-minute contracts now account for 80%+ of crypto-only volume, signaling a major market structure shift. Fast markets are increasingly automated, with bots and high-activity addresses controlling 55–62% of volume. Regulatory focus is shifting from legality to market integrity, insider access, and information asymmetry risks.