Kalshi Delivers on High Expectations for Super Bowl LX

Kalshi had high expectations for Super Bowl LX, and the initial numbers show they were met. 

CEO Tarek Mansour announced yesterday that Kalshi’s Super Bowl markets recorded over $1 billion in trading volume. That is an increase of around 2,700% compared to last season, when Kalshi’s markets were more limited. Bad Bunny’s halftime accounted for a large part of the impressive volume, with over $100 million in trades.

While sportsbooks won big, the overall handle for the NFL’s big game was lower than projected.

More Markets, Betting Pricing Help Kalshi

Last year’s Super Bowl was far less profitable for Kalshi, but it was also the first time it was offering on such a large scale. While many industry rivals had yet to launch, the operator could offer only limited markets.

This year’s Super Bowl saw far more prediction platforms, but Kalshi had stepped up its game. They offered far more markets, including prop bets, which are incredibly popular among bettors. 

Kalshi customers also reported better pricing than at sportsbooks such as DraftKings and FanDuel. The operator has claimed it can offer significantly better pricing than regulated sportsbooks, but has yet to prove it. It seems Super Bowl LX may have changed that.

More Bettors Downloaded the Kalshi App

According to The EKG Line, Kalshi’s app was downloaded twice as often as FanDuel and DraftKings sports betting platforms. While far more bettors already have one of the two industry-leading sportsbook apps, new ones sign up ahead of each Super Bowl. It appears the majority of those bettors are selecting Kalshi over traditional sportsbooks.

The impressive download stats can be attributed to Kalshi’s effective marketing campaign. It has formed partnerships with some pro sports leagues and recently added NBA superstar Giannis Antetokounmpo as an investor and spokesperson. That has helped make the operator a household name, even as more prediction operators emerge.

Success Could Add Fuel to the Fight With States

Kalshi’s success during the Super Bowl is a massive win for the operator and prediction industry, but it may be short-lived.

As states review their tax revenue numbers from Super Bowl betting, they will now see how much is being lost to prediction platforms. Those operators are not required to comply with state gambling regulations, so they don’t contribute to tax revenue from legal sports betting. That means each “trade” reduces potential revenue for states, which use it to fund schools, infrastructure, and other public projects. 

With so many bettors choosing Kalshi, more lawmakers may begin to recognize the risks posed by the prediction industry. That could lead to more lawsuits and calls for the embattled US President to take action.