Kalshi hit $1 billion in Super Bowl trades

On the day millions watched the big championship game, one betting company saw its users place over $1 billion worth of trades, marking a record-breaking moment in the world of prediction markets.

Kalshi CEO Tarek Mansour stated that February 8, 2026, saw the platform’s highest single-day trade volume ever. This shift shows people moving from passive watching to active participation through legal event contracts. While traditional sites focused on the Patriots and Seahawks, Kalshi saw heavy activity on non-sporting outcomes, with volume shooting up 2,700% compared to the previous year.

Entertainment bets draw huge money

The musical performance at halftime generated a lot of the trading action. Mansour said users traded more than $113 million trying to guess which song Bad Bunny would open with. Another $47 million went into predictions about potential surprise guests joining him onstage.

While people argued about these questions on the internet, traders put actual money behind their predictions. The artist from Puerto Rico kicked off his performance with “Tití Me Preguntó” and later brought out Lady Gaga and Ricky Martin, which made the market prices change right away.

The heavy trading in these “novelty” categories shows people moving toward “social hedging,” where viewers try to profit from their entertainment knowledge through small trades.

Reflecting on how the weekend went, Mansour mentioned how his company grabbed attention without paying for costly advertisements. “It was an incredible weekend,” Mansour said when speaking to reporters on Tuesday. “Kalshi was the biggest brand of the Super Bowl this year, without running a Super Bowl ad, and the way we achieved that is the product.”

Skipping traditional advertising saved the company roughly $10 million, the cost of a 30-second 2026 Super Bowl commercial. However, hitting number one on the App Store strained systems, causing technical issues. During the game, co-founder Luana Lopes Lara calmed worried customers on social media, explaining that heavy traffic delayed transfers. “Your money is safe and on its way; it will just take longer to arrive,” she wrote.

Can the platform prevent insider trading?

The huge amounts of money involved come at a time when prediction markets are getting more attention from watchdogs. Kalshi and similar companies have recently faced criticism over accusations of dishonest behavior.

Some people in the industry are concerned that betting on halftime show details could be rigged by people with inside information, like crew members or backup performers.

The company has responded by using protective systems similar to those at established stock trading venues. In the week before the Super Bowl, the platform announced it would increase its monitoring work to find and remove accounts doing illegal trading.

The company put together an independent Surveillance Advisory Committee, adding experts like Daniel Taylor from the Wharton Forensic Analytics Lab and Lisa Pinheiro of Analysis Group. Through working with outside companies like Solidus Labs, Kalshi is trying to build a “forensic trail” for each trade, a type of openness that traditional overseas gambling sites don’t currently have to provide.

Mansour rejected the idea that his company deals with special problems. “The insider trading risk is very real for the stock market as well,” Mansour said on Tuesday. He pointed out that government regulation gives Kalshi benefits over unregulated foreign rivals.

“As a regulated financial market by the Commodity Futures Trading Commission, we have the same rules as the Nasdaq and the New York Stock Exchange, and we have the same mechanism of enforcement,” he said.

The company says it takes strong action against people who break the rules. Mansour disclosed that the platform ran 200 investigations during the past year and closed the accounts that were involved. Some situations were turned over to law enforcement for potential criminal prosecution.

As Kalshi considers introducing features like margin trading, the Super Bowl numbers show strong interest exists for betting on actual events, even as the regulations controlling these markets continue to develop.

Join a premium crypto trading community free for 30 days - normally $100/mo.