where the total trading volume reached a record level of $8.5 billion in October.
Who is leading the race? And their position in 2026:
Currently, the latest data (up to November) shows Kalshi outperforming in total trading volume ($4.4 billion) and total open interest ($297 million), but 90% of its volume comes from sports markets. In contrast, Polymarket is characterized by diversifying its markets between politics, sports, and culture.
Positioning towards 2026:
* Polymarket: Secured massive funding of $2 billion at a valuation of $9 billion from ICE (the parent company of the New York Stock Exchange), focusing its efforts on the imminent return of the larger U.S. market.
* Kalshi: Raised $300 million and enhanced its reach to a broader audience through a partnership with Robinhood, and is expanding into other categories beyond sports.
Air projections (Airdrops):
Polymarket announced the launch of the POLY token in 2026 with a plan for an airdrop for traders, leading to a 20% increase in activity. The potential value of this airdrop is significant given the company's valuation. Opinion Labs also confirmed its plans for the airdrop.
In contrast, the probability of the air projection from Kalshi is considered low due to its highly regulated nature.
Important notice to our valued followers:
Always remember that the cryptocurrency market is highly volatile. Technical analysis provides probability indicators, but it is not a guarantee. Everyone should do their own research before making any investment decisions.
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