Prediction Market Companies Report Big Trading on Super Bowl

• Kalshi and Robinhood both reported hundreds of millions in trades on Super Bowl LX
• Kalshi reported more than $500 million in trading on the big game
• Robinhood reported nearly $260 million in event contracts related to the game

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The Super Bowl was big business for prediction market companies.

Both Kalshi and Robinhood reported hundreds of millions of dollars in trades related to the Super Bowl LX, which saw the Seattle Seahawks defeat the New England Patriots by a final 29-13 score in an underwhelming finale to the NFL season.

The companies reported high volumes of trading for the game, despite several ongoing lawsuits throughout the country dealing with regulation of the much-debated sports event contracts.

Easily Topping 2025 Numbers

Less than an hour before kickoff of Super Bowl LX, Kalshi reported more than $325 million in volume. As trading continued through the game, Kalshi reported a final total of $500,171,547 in sports event contracts for the game.

However, the company also reported brisk trading for props related to Super Bowl LX. More than $113.5 million in trades were made on predicting Bad Bunny’s first song at halftime, which ended up being “Tití Me Preguntó.” Additionally, $36.8 million in trades were made on who would attend the Super Bowl, which included contracts on Jason Kelce, Doechii, Ben Affleck, Zendaya, and Mark Wahlberg.

Kalshi reported just $27 million in trading volume for last year’s Super Bowl. Dustin Gouker, creator of the Closing Line substack, said Kalshi set a new daily volume record of $871 million for all trading events related to the Super Bowl.

New: Kalshi sets a record for daily volume of $871 million on Super Bowl Sunday.

Probably missed out on a billion because the game was terrible.

Top 10 markets (which includes the Cardi B to perform in halftime show market, which had millions traded an hour after the game). pic.twitter.com/H522Mm7gYu

— Dustin Gouker (@DustinGouker) February 9, 2026

Robinhood also experienced brisk business for the game, reporting total trading volume of $258,692,694 for the Super Bowl. The prediction market company also reported $2.4 million in trading volume on a contract asking what songs Bad Bunny would perform during his halftime show.

Big Business, But Big Lawsuits Still Remain

While prediction market trading volume for Super Bowl LX was high, the companies still face ongoing litigation in a number of states throughout the country. Kalshi is involved in about 19 federal lawsuits, most of which revolving around the fundamental question of who regulates sports event contracts.

On Friday, Massachusetts Superior Court Judge Christopher K. Barry-Smith denied the Kalshi’s motion for an emergency stay and declared the company must geofence the commonwealth to prohibit the trading of sports event contracts within 30 days.

The 30-day time period may allow for Kalshi to appeal his decision and seek another stay from an appeals judge.

A Kalshi spokesperson acknowledged the judge’s decision and confirmed the company will indeed appeal the order.

“We respect the Commonwealth and its courts, but we continue to believe federal law governs our federally licensed exchange. We will stay the course and fight for that belief,” the spokesperson told Sports Betting Dime.

Companies such as Robinhood and Kalshi believe that state regulatory bodies do not have the right to intrude on the government’s “exclusive” authority to regulate prediction market, filing lawsuits in several states to defend its practices. These companies believe the CFTC is the only regulatory body that can legally block contracts from being offered to customers.

State gaming regulators maintain the markets need to be beholden to regulations, taxes, and license fees that sports betting and gaming operators are required to follow.

The prediction market companies believe their offerings are not required to comply with state laws, as they have been preempted by the Commodity Exchange Act.