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Australian regulators monitor offshore prediction markets as political trading grows

Regulation

Offshore platforms Kalshi and Polymarket have attracted trading on Australian political and economic events, despite neither holding an Australian market licence, according to the report. Polymarket contracts on the Farrer byelection drew nearly US$500,000, while Kalshi handled close to US$100,000; Australia’s communications authority previously directed providers to block Polymarket, and Kalshi says it bars Australian residents.

Operators and regulators face questions over offshore prediction-market access, licensing and integrity risks in Australia.

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Regulation

Kalshi records $25.3bn in parlay trading during midterm period

Kalshi recorded more than $1.1 billion in election trading during the 10 days around the US midterms, while parlays generated $25.3 billion over the same period, according to analysis of prediction-market data. Election trading accounted for 3% of platform volume; volume measures contracts exchanged, not revenue retained by the platform.

Kalshi processed more than $1.1 billion on elections during the 10 days surrounding the midterms, only 3% of the platform's volume. Over the same period, Kalshi processed $25.3 billion in parlays and also $6.1 billion in non-parlay sports contracts.

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