TLDR Kalshi’s 15-minute markets brought in $20.4 million in fees over the seven days to Oct. 5, about 80% of its non-sports fees. Daily fees from 15-minute crypto markets rose from under $10,000 in January to $2.9 million last Friday. Kalshi has made $2.04 billion in total fees in 2026, with non-sports events making up 19.2%, up from 11% in 2025. Critics compare the markets to slot machines, while Kalshi says they show real price discovery. The 2026 midterm elections could shift Kalshi’s non-sports revenue away from crypto.
Kalshi’s fee revenue from non-sports contracts is growing faster than its sports business. Most of that growth comes from one product: 15-minute cryptocurrency markets.
These short-term markets, along with similar 15-minute commodity and finance contracts, brought in $20.4 million in fees over the seven days to Oct. 5. That is around 80% of Kalshi’s non-sports fees, according to data reported by InGame.
The weekly figure equals about $1 billion in yearly revenue. It is also more than Kalshi earned from non-parlay football bets over the same period.
Kalshi Crypto Markets Grow From Almost Nothing
Kalshi launched its 15-minute crypto markets in December 2025. In January, they brought in less than $10,000 a day in fees.
By September, those markets were making more than $2 million a day. Last Friday, they brought in $2.9 million.
When commodity and financial index contracts are included, 15-minute markets passed $3 million in daily fees four times last week. They hit $3.3 million on Friday.
Over the past seven days, Kalshi collected $25.1 million in non-sports fees and $73.5 million in sports fees. Of the remaining $4.8 million in non-sports fees, $3.8 million came from hourly or daily crypto, commodity, and index markets.
Kalshi has made $2.04 billion in fees so far in 2026.