The new props and parlays markets on Kalshi are slowly starting to catch on with traders.
Thursday night’s NFL football game between the Philadelphia Eagles and the New York Giants generated more than $45 million in volume on the winner, with another $`9.3 million traded across a handful of secondary markets.
Kalshi began rolling out these additional options around the start of the season, a big step forward but still very much a work in progress. Player props for individual yardage are the newest addition to the trading menu.
Total Thursday volume on the platform was $114 million, with 85% of that tied to sports contracts.
Anytime TD prop proving pretty popular
As is the case for traditional sports betting operators, traders on Kalshi seem especially fond of the anytime touchdown market. Five players found the end zone on Thursday Night Football, sorted here by volume:
- Jaxson Dart: $114,458
- Cam Skattebo: $55,591
- Dallas Goedert: $37,189
- Jalen Hurts: $37,058
- Wan’Dale Robinson: $12,012
Robinson was the longshot among that quintet, with a Yes contract trading for less than $0.25 per share prior to his score. Saquon Barkley attracted more than $90,000 in volume but failed to score for just the second time this season.
Volume for the TNF anytime touchdown market was $529,685, a popular choice but still a small fraction of the day’s total trading activity.
Other notes from TNF on Kalshi
Kalshi’s expanding menu gives traders the opportunity to speculate on the game from a few different angles. Here are the numbers for the other secondary markets related to TNF:
- Spread: $4,282,798
- Total: $1,925,793
- Same-game parlays: $1,256,129
- Multi-game parlays: $298,628
- Mentions: $276,392
- 2+ Touchdowns: $195,847
- 1st Touchdown: $184,876
- Rushing Yards: $113,938
- Passing Yards: $102,515
- Receiving Yards: $101,853
Trading on the spread, in particular, seems to be climbing as the season progresses. That $4.28 million in volume is the second-most for any NFL spread this season, trailing only the Chiefs–Jaguars primetime matchup this past Monday night.
While these options represent a significant improvement from the start of the season, they still fall far short of the hundreds of secondary markets that are available via traditional sports betting operators. Mentions markets, however, are generally not available in the state-regulated sports betting marketplace and seem to draw outsized interest on prediction platforms – both for sports and for other categories like politics and business.
Total trading volume for TNF across all Kalshi markets reached a combined $55.2 million.
Football far and away most popular
The three primetime professional games were the top three events on Kalshi for the day.
Action on the result of the TNF tilt made it the sixth-most traded NFL game of the young season. The Week 4 thriller between the Packers and the Cowboys still occupies the top spot at $68.4 million.
Baseball is meanwhile approaching the climax of its season, but Thursday’s pair of Divisional playoff games drew comparatively modest interest. The American League matchup between the Brewers and Cubs generated $9.06 million in volume, while the Phillies-Dodgers game in the National League reached $12.1 million.
The Nobel Peace Prize market was the most popular non-sports market on Thursday, with $3.32 million traded prior to its settlement.
