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Regulatory pressure intensifies, Kalshi's U.S. visits surge 1500%

2026-09-04 20:21:55

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Forecasting market giant Kalshi's U.S. traffic surges, regulatory controversy continues to simmer

Kalshi, the main forecasting market platform, has experienced explosive growth in U.S. Internet traffic over the past year, a phenomenon that highlights the platform's rapid expansion and reflects the strict scrutiny of its expanding event contract business by regulators and courts.

Kalshi received 15.4 million visitors from the United States in July, according to Similarweb traffic data reviewed by Cointelegraph on Friday. Compared with just under 1 million visits in August 2025, this number has increased by approximately 1,520%. Among them, U.S. traffic accounted for nearly 80% of Kalshi's total traffic, up from 72.8% in August 2025, indicating that its growth is still highly concentrated in the country.

The surge in traffic comes as Kalshi faces increasingly serious legal challenges over whether its sports contracts are subject to federal regulation or state gambling laws. Currently, New Jersey has appealed the dispute to the U.S. Supreme Court.

Trading volume growth outpaces traffic growth

Kalshi's surge in Internet traffic has been accompanied by faster growth in trading activity as the market is forecast to expand rapidly over the past year. According to Dune Analytics 'forecast market data dashboard, Kalshi's monthly nominal trading volume in August was approximately US$40 billion, compared with only US$874 million a year ago, an increase of approximately 4,500%.

Source: Dune Analytics

Across the forecast market industry, nominal monthly transaction volume increased from approximately US$2 billion to US$50.7 billion over the same period, with Kalshi accounting for nearly 79% of the latest total.

Sports contracts accounted for 83% of Kalshi's July trading volume, Barron's Weekly reported on Thursday.

User traffic in restricted jurisdictions continues to grow

Canada received approximately 450,000 visits to the Kalshi website in July, up from approximately 50,000 in August 2025; UK traffic also increased from 31,000 to 296,000.

Canada and the United Kingdom are both among the jurisdictions where Kalshi membership agreements currently prohibit users from directly accessing or trading on the Kalshi platform. In June, Kalshi partnered with Canadian financial services company Wealthsimple to provide nearly 4,000 eligible users with access close to Kalshi contracts through a stand-alone application.

Comparison of Kalshi's website traffic between July 2026 and August 2025. Source: Similarweb

From August 2025 to July 2026, Canada's share of Kalshi traffic has dropped from 3.8% to 2.3% and the UK's share has dropped from 2.4% to 1.5%.

Cointelegraph contacted Kalshi for comment regarding traffic from restricted jurisdictions, but had not received a response as of press time.

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