Prediction markets Polymarket and Kalshi gained significant popularity during the last U.S. presidential election but experienced a major decline in user activity thereafter. Downloads peaked in October with Kalshi surpassing 100,000 and Polymarket exceeding 50,000. By June, downloads had dropped dramatically, reflecting a decrease of over 90%. Daily active user metrics showed a similar trend, with both apps reaching peak usage post-election, but experiencing significant declines by mid-June, underscoring challenges in retaining user engagement after major events.
The combined daily downloads for Kalshi exceeded 100,000 last October, while Polymarket had over 50,000 downloads. By June, there was a decline of over 90%.
On November 6, both apps experienced record utilization, with Kalshi seeing around 400,000 users and Polymarket around 300,000. By June, DAU plummeted to between 27,000-32,000 and 5,000-10,000 respectively.
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