Kalshi has set a record for daily volume of $340m, which has coincided with the full rollout of the prediction market platform’s latest feature, Combos.
The exchange launched its Combos feature, which is akin to same game parlays and bet builders, at the start of December, allowing all users to trade a custom combination of events.
Each combo acts as a unique market with its own dedicated order book, with Kalshi’s FAQ section stating that the combos “resolve to the product of the value of each individual position”.
When a user creates a combo, a request for quote (RFQ) is sent out to the market to establish a price.
Quotes are generated live, with other users given the opportunity to respond with a quote and take the other side of the position.
The feature is currently limited to professional NFL, professional basketball and mention markets, with “potential future rollouts” slated for other markets.
The FAQ page was published on 4 December. The New York-based firm pushed out its bet builder style product under a limited release at the end of September, which sent Flutter and DraftKings stocks sliding.
The full rollout of Combos pushes the prediction market closer towards what its critics argue is a form of sports betting.
Before the start of the NFL season in September, Kalshi announced a series of enhancements to its sports event contracts offering.
These included the introduction of touchdown prop markets, point spreads and totals.
Kalshi CEO Tarek Mansour revealed that Combos generated over $100m in volume for the platform last week.
Writing on LinkedIn, Mansour said: “The wait is over: Combos are officially live for everyone on Kalshi. Last week alone they did over $100m in volume.
“Why are they so popular? Better pricing. In traditional financial markets, traders bundle multi-leg options instead of buying separately to get better prices. Combos offer the same price improvement.
“And like with all our other markets, there is no house: when you submit a Combo, traders compete in the open market to take the other side.”
Mansour added that the platform has experienced significant growth towards the end of the year.
He continued: “Kalshi has set the pace of innovation in our industry over the last two years. Our product team has consistently pushed the boundary and this release is no different.
“There is no secret to our product velocity: focus on customers, stay lean like it’s day one, don’t take yourself too seriously and work harder than anyone else.
“Our efforts are compounding: our app grew 50% month-over-month in November and we hit another daily volume record yesterday at ~$340m.”
Earlier this month, Kalshi was announced as a founding member of Coalition for Prediction Markets (CPM), designed to promote “fair, safe and open access” across the vertical.
The exchange also closed a Series E funding round at the start of December which raised $1bn, valuing the company at $11bn in the process.
The post Kalshi hits new $340m daily volume record after ‘Combos’ launch first appeared on EGR Intel.
Exchange’s new feature, which went live at the start of December, saw more than $100m in trading volume in the last week
The post Kalshi hits new $340m daily volume record after ‘Combos’ launch first appeared on EGR Intel.