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Kalshi, Polymarket Trading Volumes on some Products Raise Questions Amid Massive Growth

Summary by CNBC
Unusual trading patterns on Kalshi and Polymarket are drawing scrutiny as experts debate whether reported volumes reflect organic market activity.

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CNBC report points to questionable volumes in Kalshi and Polymarket products; companies deny wash trading and inorganic activity

The volumes of certain Kalshi and Polymarket contracts generate doubts between analysts, just as both platforms use the growth of their activity to support millionaire valuations. Companies deny washing trading, but patterns in low-probability markets and perpetual futures reopen the debate about the quality of those figures.

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CNBC broke the news in Englewood Cliffs, United States on Wednesday, September 30, 2026.
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