Kalshi's Trading Volume Heavily Skewed Towards Sports, Short-Dated Crypto Contracts as Legal Battle Over Swap Status Intensifies

Analysis of Kalshi's trade data reveals 95% of August volume came from contracts with disputed swap status, as courts split on whether prediction markets qualify under Commodity Exchange Act. The platform's rapid growth is concentrated in sports betting and short-term crypto contracts while traditional financial hedging instruments represent less than 1% of activity.