According to Bloomberg, Kalshi and Polymarket's crypto event contracts achieved $2.7 billion in weekly notional trading volume last week, marking a new all-time high. The trading volume was primarily driven by "up/down" contracts, with traders betting on price movements of assets like Bitcoin across timeframes ranging from 5 minutes to end-of-day, with Kalshi's 15-minute Bitcoin contract single-period trading volume exceeding $1 million.

Cryptocurrency is now the second-largest category on both platforms, behind only sports. Meanwhile, centralized exchange spot trading volume declined to approximately $33 billion daily, significantly lower than the $70-100 billion typical in January-February 2026.

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