US prediction markets increased fivefold in eight months, Blask reports
The platform has revealed that despite the rapid growth, the category has not yet reached its historical peak.
US.- Blask, an AI-powered igaming analytics platform, has reported that branded demand for prediction markets in the US has increased more than fivefold since August 2025 but remains 49 per cent below the all-time high recorded during the November 2024 US election cycle. It said Polymarket and Kalshi jointly account for approximately 94 per cent of all branded demand in US prediction markets as of March 2026.
In Kansas, Polymarket controls 95.5 per cent of branded demand, compared to Kalshi’s 3.5 per cent, representing the most extreme imbalance, the report states. Louisiana shows the closest competition, with Polymarket at 59 per cent and Kalshi at 35.3 per cent.
The rest of the market accounts for 6 per cent of total branded demand. Myriad ranks as the closest competitor, holding under 1 per cent share while Robinhood has seen the fastest growth, with a year-over-year increase of +983.4 per cent, although its share remains low at 0.24 per cent.
The report added that California accounts for 15.9 per cent of total US branded demand, followed by New York at 10.8 per cent. The two states account for over a quarter of the entire category’s interest.
Blask reported: “Unlike the sharp, short-lived surge seen in 2024, the current rally has developed steadily over eight consecutive months without a comparable macro trigger. This shift suggests a structural evolution of the category, moving from episodic attention towards more consistent user engagement. At the same time, the competitive landscape has consolidated rather than diversified.”
“While prediction markets are still influenced by major real-world events, the current growth pattern suggests increasing baseline demand – and a competitive environment defined by scale rather than fragmentation,” it added.
It concluded: “As the market continues to evolve, the key question is no longer whether interest will return, but how it will be distributed – and whether new entrants can meaningfully challenge an increasingly entrenched duopoly.”
