In 2024, prediction markets called the presidential election before the polls could. Now, they’re mostly betting on sports.

Kalshi’s “Who will win the Presidential Election?” market is still the platform’s largest prediction market by volume, with almost $536 million traded. Other markets tied to the 2024 election drew huge numbers. For example, the “Popular vote margin of victory?” market saw almost $135 million in volume, making it Kalshi’s second-largest market by volume to date.That could keep the ball rolling for future growth for these companies — or it could pose an existential risk.Sports-related prediction markets have ...