Kalshi takes November U.S. search lead as Polymarket holds the year

Kalshi led U.S. prediction-market search demand in the first half of November, overtaking Polymarket for the month even as Polymarket retained a commanding lead across the year to date.

Blask Brand’s Accumulated Power data, published by RG.org, put Kalshi at 51.9% of category demand as of Nov. 15, against 45.2% for Polymarket. The two platforms together captured 97.1% of U.S. search interest in the category.

The monthly result reversed the longer-running ranking. From January through mid-November, Polymarket held 68.2% of U.S. demand and Kalshi 27.5%. Polymarket’s November share was nearly eight percentage points higher than in October, while Kalshi’s was flat.

The change in search interest follows October, when Kalshi overtook Polymarket in monthly trading volume for the first time, as we reported.

Kalshi’s November strength was linked to the Nov. 3 elections and its regulated election contracts, which had made the platform a common search destination for first-time traders. Blask’s overall index of U.S. prediction-market interest had already risen from an August low of about 2.8 million to 5.89 million in October.

Kalshi posted 276.7% annual growth, the largest real growth figure among the tracked platforms. Polymarket grew 141.2%, suggesting its broader annual lead was maintained despite its second-place November showing.

The Council on Foreign Relations separately estimated that Kalshi and Polymarket accounted for about 95% of U.S. election-market trading volume, a different measure from Blask’s search-demand figures. By early October, the two platforms had facilitated $1.4 billion of trading on 2026 election markets. The council said the platforms offered more than 1,000 such markets.

Outside the two leaders, Novig’s share fell from 7.5% in October to 0.9% through Nov. 15. Robinhood ranked seventh and grew 126.2% year on year, while DraftKings reached eighth place with its first measurable category share. PredictIt held 0.17% of demand and was down 1.1% on the year; a further 16 tracked platforms had too little search volume for a measurable share.