Prediction market Kalshi reached $1bn in trading volume during Super Bowl

A picture


Online prediction market Kalshi hit a daily record on Super Bowl Sunday, surpassing $1bn in trading volume, the company announced on Tuesday.Kalshi’s CEO, Tarek Mansour, called it an “incredible weekend”, telling CNBC that “Kalshi was the biggest brand of the Super Bowl this year, without running a Super Bowl ad”.Kalshi trading volume during the game was up 2,700% year over year.More than $100m were bets on Bad Bunny’s opening song and $45m on which artists would perform with him on stage.In comparison, the platform saw $27m in total trading volume at last year’s Super Bowl.

Prediction markets like Kalshi allow users to trade on the outcomes of virtually anything, from sports and elections to what color someone will wear during a performance.Unlike casinos or traditional sportsbooks, users effectively bet (or “trade”) against others on the platform, instead of an established “house”, and the platforms earn revenue by charging trading fees.Kalshi and competitor Polymarket argue that this model distinguishes them from traditional casinos or sportsbooks.Since the US supreme court overturned the federal ban on sports betting in 2018, state gambling agencies regulate traditional gambling outfits, but prediction markets are currently overseen by the Commodity Futures Trading Commission.“The reason people are flocking to prediction markets, especially Kalshi, is that our incentive as a company [is] we win when the customers win, we don’t win when the customers lose, and that’s a huge difference in the model,” Mansour said on Tuesday.

On Sunday, Kalshi told users that although some deposits were “delayed because of the amount of traffic and deposits we’re getting”, their money “is safe and on the way, it will just take longer to land”.Prediction markets have risen in popularity in recent months and are now used beyond sports, edging into other events such as the Grammys and Oscars.Last week, Kalshi announced that the NBA star Giannis Antetokounmpo was joining the company as a shareholder.But in recent months, critics have raised concerns about potential market manipulation and insider trading on these prediction market sites.Ahead of the Super Bowl, Kalshi said it expanded its surveillance and enforcement efforts to detect and remove accounts engaging in insider trading or market manipulation.

In a post on X days before the Super Bowl, Mansour said the company over the past year “ran over 200 investigations and froze relevant accounts” and referred several active cases to law enforcement,
sportSee all
A picture

Winter Olympics briefing: Klæbo triumphs again … and is hungry for golden record

Day four of the Milano Cortina Games, and one question is starting to feel a little rhetorical: how do you stop Johannes Høsflot Klæbo? Short answer – you don’t. You just race for second and hope he smiles at you on the way past.On Tuesday, the Norwegian cross-country phenomenon did what he has been doing all week: made world-class athletes look as if they were chasing a mirage. Technique? Flawless. Tactics? Ruthless

A picture

Suffocating Scotland key to Borthwick’s plan for England Calcutta Cup success | Robert Kitson

England’s players normally look forward to a Calcutta Cup examination at Murrayfield with about as much enthusiasm as a trip to the dentist. At best it tends to be uncomfortable, at worst it’s grip-the-chair-and-pray time. And that’s before they are wheeled out into the freezing rain and the hygienist produces a set of bagpipes to enhance the experience even further.So it was more than a little unnerving to listen to Steve Borthwick talking about his team’s genuine enthusiasm for what lies in store. Never mind all the recurring pain they have endured in Edinburgh in recent years, with three defeats in their past four visits

A picture

Super League 2026: team-by-team guide to the new season

Hull KR are the team to beat again, tough times are ahead for promoted trio and Leeds might be back to their bestThe former Super League champions are back after a 12-year absence, and Bradford have had to rebuild their squad for a full-time return to the top flight after being a part-time operation in recent years. Most of that recruitment was done late in the day owing to promotion not being confirmed until October, meaning their first year back could be a difficult one.Coach Kurt Haggerty Captain Joe Mellor Key player Andy Ackers Last season 3rd in Championship Prediction 14thIt is a new-look Castleford in 2026, who have brought in 14 signings including a raft of talent from the NRL led by eye-catching recruits Semi Valemei, Mikaele Ravalawa and Blake Taaffe. Their new coach, Ryan Carr, is highly regarded too and while the Tigers will improve on last year’s disappointment, the playoffs looks likely to be a stretch too far this year.Coach Ryan Carr Captain Alex Mellor Key player Blake Taaffe Last season 11th Prediction 9thThe Dragons, now one of two French teams in Super League, are among a handful of clubs who will be jostling for the lower end of the playoff places

A picture

Qatar’s beIN Sports wins LA 2028 media rights in buildup to 2036 Olympics bid

Qatar’s bid to host the 2036 Olympic Games has received a boost with the state-owned broadcaster beIN Sports concluding a media rights deal for the 2028 Games in Los Angeles.It is understood that beIN has won the rights to broadcast LA 2028 in the Middle East and north Africa (Mena) region, with the contract signed by the International Olympic Committee president, Kirsty Coventry, and the beIN chair, Nasser al-Khelaifi, over the last few days at the Winter Games in Milan Cortina.Khelaifi is not a member of the Qatar Olympic Committee that is running the bid to bring the Games to Doha, while beIN has no formal role in promoting it. The Paris Saint‑Germain president is a board member of the sovereign wealth fund Qatar Investment Authority, however.BeIN acquired Olympic rights in 2015, and last week secured a last‑minute deal to show the Winter Games on its streaming platform, TOD

A picture

Jordan Stolz: the American speed skater who could define the Olympics

The 21-year-old has dominated speed skating for three years running. In the next 11 days, he could become not just an Olympic champion but the face of the Winter GamesEach Winter Olympics produces one or two figures who come to define it. The stars whose performances transcend result sheets and medal tables and settle into memory as shorthand for the event itself. For decades, America has waited for their next one: someone capable of cutting through the noise of the crowded sports landscape and centering themselves in the national conversation.Jordan Stolz may be him

A picture

Ashes fallout continues as Seven faces $7m revenue hit from two-day Tests

The Ashes hangover continues after Channel Seven partly blamed a $7m revenue shortfall on the pair of two-day Tests during the Australian summer, which were triggered by England’s capitulation in Perth and a pitch in Melbourne that proved too difficult for both sides to subdue.The impact of the unusually brief series is still rippling through the game, leaving lower-than-expected returns for the cash-strapped sport and even Australia’s players, who have a revenue share agreement with the governing body.Half-yearly results issued on Wednesday by Southern Cross Media Group, parent company of Seven West Media, reported revenue of $712m for Australia’s free-to-air broadcaster of the Ashes, down 2.1% on last year and down 1% on guidance provided at November’s AGM.The turnaround between expected and realised revenue over such a short timeframe was put down to waning interest from those booking ads, and the cricket