Kalshi reached over $1 billion in trading volume on Super Bowl Sunday, marking a daily record high, reported CEO Tarek Mansour. Year-over-year, the volume surged by 2,700%, with users able to buy event contracts in various categories. The platform saw significant activity surrounding halftime performer Bad Bunny, with bets exceeding $145 million.

Despite its success, Kalshi faced delays for some users’ deposits during the Super Bowl due to high traffic, as shared by co-founder Luana Lopes Lara on social media. The platform has been under scrutiny, addressing concerns of insider trading along with other prediction markets. They have implemented enhanced surveillance and enforcement measures to combat such activities.

Mansour emphasized the legitimacy of Kalshi as a regulated financial market under the Commodity Futures Trading Commission, with similar rules and enforcement mechanisms as major stock exchanges. The platform has conducted numerous investigations over the past year, freezing relevant accounts and involving law enforcement for prosecution in certain cases. Kalshi remains committed to upholding industry standards and regulations.

Read more at CNBC: Kalshi says Super Bowl trading volume surpassed $1 billion