Prediction-market trading finally pulled back in August after a year of consecutive monthly growth.
Combined volume across Kalshi, Polymarket and Polymarket US fell 14.5% to $45.33 billion, marking the first month-over-month decline since August 2025.
Kalshi remained the dominant platform with $37.17 billion in August volume, down 7.3% from July. Polymarket and Polymarket US generated a combined $8.16 billion, representing a much steeper 36.7% monthly decline.
The slowdown followed elevated activity during the World Cup, which helped push prediction-market trading higher through June and July.
TOKEN RECON ASSESSMENT:
This does not necessarily signal the end of the prediction-market boom. August still produced massive trading volume. The bigger question is whether these platforms can maintain high engagement when major election and sporting-event catalysts are absent.
