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Kalshi's Sports Betting Dominance and Housing Market Shifts

Wall Street Journal Markets •
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Kalshi's sports event contracts dominate its business, with sports betting comprising 79% of exchange volume. Analysts estimate the total addressable market for sports prediction contracts at $1.1 trillion, projecting $10 billion annual revenue—a target matching DraftKings' prediction business ambitions. The platform's growth stems from offering legally compliant alternatives to traditional gambling in restricted states and attracting younger demographics.

Realtor.com reports that 60% of the largest U.S. housing markets are now balanced or buyer-friendly, though 13 of the top 50 metros remain seller’s markets. Regional disparities persist: 8 buyer’s markets cluster in the South and West, while 13 seller-advantage markets concentrate in the Midwest and Northeast. Local conditions, the firm notes, outweigh national trends in real estate decisions.

Kalshi’s partnership with Robinhood has waned, with Robinhood’s share of Kalshi’s volume dropping from 60% in March 2025 to 23% as of March 2026. Bank of America analysts attribute this shift to Kalshi’s rapid expansion, now holding 91% of the prediction-market industry share. The move signals intensifying competition in event-based trading platforms.