Kalshi, a major prediction market platform, has seen its US web traffic explode over the past year, a surge that highlights the platform's rapid growth even as regulators and courts scrutinize its expanding event-contract business.

According to Similarweb traffic estimates reviewed by Cointelegraph on Friday, Kalshi recorded 15.4 million visits from the United States in July, up roughly 1,520% from just under 1 million in August 2025.

US traffic represented nearly 80% of Kalshi's total visits in July, an increase from 72.8% in August 2025, showing that the platform's growth has remained heavily concentrated in the United States.

The traffic surge comes as Kalshi faces mounting legal challenges over whether its sports contracts fall under federal oversight or state gambling laws, with New Jersey taking the dispute to the US Supreme Court. At the heart of the conflict is the boundaries of the Commodity Exchange Act: Kalshi operates as a designated contract market regulated by the Commodity Futures Trading Commission (CFTC), which it argues gives its event contracts federal clearance, while state regulators contend its sports offerings constitute gambling under state law. The outcome of the litigation could shape how prediction markets are permitted to operate across the United States, an industry that has drawn increased attention from traditional financial and sports-betting firms alike as volumes have climbed.

Trading volume outpaces traffic growth

Kalshi's rise in web traffic has been accompanied by even faster growth in trading activity, as prediction markets have expanded rapidly over the past year.

Kalshi recorded approximately $40 billion in monthly notional trading volume in August, up from $874 million a year earlier — an increase of roughly 4,500% — according to a Dune Analytics prediction market data dashboard.

Across the wider prediction-market industry, monthly notional volume climbed to $50.7 billion from about $2 billion over the same period, with Kalshi accounting for nearly 79% of the most recent total.

Sports contracts made up 83% of Kalshi's trading volume in July, Barron's reported Thursday. That concentration underscores why the legal fight over sports event contracts has become central to the platform's outlook — and why additional state or court restrictions on sports markets would affect the majority of Kalshi's current activity.

Kalshi draws growing traffic from restricted jurisdictions

Canada generated about 450,000 visits to Kalshi's website in July, up from roughly 50,000 in August 2025, while UK traffic rose to 296,000 from 31,000.

Both Canada and the UK are among the jurisdictions where Kalshi's member agreement currently prohibits users from directly accessing or trading on the platform. In June, Kalshi partnered with Canadian financial services company Wealthsimple to provide access to nearly 4,000 eligible Kalshi contracts through a separate app.

From August 2025 to July 2026, Canada's share of Kalshi's traffic slipped to 2.3% from 3.8%, while the UK's share fell to 1.5% from 2.4%, even as visits from both countries increased.

Cointelegraph contacted Kalshi for comment on the traffic from restricted jurisdictions but had not received a response by publication.