Kalshi Tremendous Bowl Quantity Tops $1B Helped by Non-Sports activities Contracts

• Kalshi notched north of $1 billion in quantity on Tremendous Bowl Sunday
• The corporate’s Tremendous Bowl week quantity reached $2.8 billion
• Bettors leaned into non-sports contracts, together with $100 million on Dangerous Bunny’s first track throughout the halftime present

Tremendous Bowl Sunday was certainly tremendous for Kalshi as quantity on the prediction markets platform topped $1 billion, marking a staggering 2,700% year-over-year enhance.

A Kalshi social media advert. CEO Tarek Mansour mentioned Tremendous Bowl quantity topped $1 billion. (Picture: Getty)

Kalshi co-founder and CEO Tarek Mansour talked about the $1 billion determine in a CNBC interview earlier at this time, although another estimate places the corporate’s Sunday turnover at $871 million. Even when the decrease determine is correct, it’d signify a 60% enhance over Kalshi’s earlier highest quantity day. Whereas the sport itself is the first supply of attract for bettors and merchants, knowledge verify Kalshi shoppers leaned into non-sports contracts tied to the Tremendous Bowl in a giant manner.

Whereas Kalshi customers are likely to wager extra on cash line bets vs. props or parlays, Kalshi customers additionally favor the non-sports bets round sports activities,” observes Needham analyst Bernie McTernan. “Information reveals that of the highest seven Kalshi markets on the Tremendous Bowl, 4 of seven weren’t concerned with the sport. These 4 embody First Halftime Track, Advertisements throughout the recreation, Halftime Performers, and Tremendous Bowl Friends.”

Mansour confirmed as a lot, telling CNBC Kalshi shoppers drove greater than $100 million in quantity on contracts involving Dangerous Bunny’s first track for the halftime present and greater than $45 million on derivatives based mostly on artists that may carry out with the pop star.

Kalshi Pricing Improved Throughout Tremendous Bowl Week

The 2025 NFL season was a serious contributor behind elevated turnover on prediction markets, however a well-recognized chorus was that these exchanges had been providing inferior pricing relative to conventional sportsbooks, probably giving bettors little motive to desert sportsbooks in favor of prediction markets.

Information point out Kalshi improved on that entrance throughout Tremendous Bowl Week with the corporate making progress on sides and totals in addition to within the coveted parlay area — one lengthy dominated by sportsbooks and one which trade depends on for Tremendous Bowl income.

“General, Kalshi’s pre-game odds for recreation consequence and over/below had been higher for the overwhelming majority of the week, with a median vig of 4.35% when including within the transaction price, on common, 3% higher than DraftKings and FanDuel, on common,” mentioned Residents Fairness Analysis analyst Jordan Bender in a observe to shoppers. “We tracked combos (parlays) on Kalshi by taking the common odds and implied vig for 1) the over, and a pair of) the favourite (Seattle). The implied vig for Kalshi was 23.7%, 4% higher than pricing for DraftKings and FanDuel, with out the transaction price.”

The analyst provides that Kalshi’s pre-game quantity on the winner of the Tremendous Bowl was $361 million, however that figured jumped to $499 million by the ultimate whistle, indicating bettors had been transferring out and in of positions as the sport performed out — one thing they’ll’t do with normal sportsbooks.

Extra Indicators Tremendous Bowl Benefited Prediction Markets

Different indicators level to Tremendous Bowl victories for prediction market operators. For instance, PrizePicks and Underdog had been two of the 4 most downloaded sports activities gaming apps throughout the recreation. The previous has a prediction markets partnership with Kalshi whereas the latter is teaming up with Crypto.com on occasion contracts.

There was extra proof of pricing wins for prediction market operators. Financial institution of America notes that the 2 most worthwhile venues to have positioned cash line bets on the Seattle Seahawks had been Polymarket and Novig, implying these exchanges supplied bettors greater rewards than a normal sportsbook.