Fascinating data from @Eric_Ramsey@TickerTracker_:
Combos with 20 or more legs at Kalshi went from 3.5% of the total in July to 17% in September, and the average combo contract went from 8 legs to 13 over that span.
About 10% of all combos traded in September settled Yes, a hit rate that falls to 2.7% for combos with 10+ legs and 1.5% for those with 20 or more. Across the combos with 100 or more legs, two have settled Yes and 5,272 settled No.
More in this morning’s Event Horizon.
The three NBA tipoff games on Tuesday night produced a combined $114 million in trading volume on Kalshi -- about as much as three typical NFL games.
OKC/SAS > PHI/NYK by a smidge.
🏆 Centipede Combo of the Week(™) on Kalshi
- 453 legs
- $47 to win $1,462 (~+3000)
- 27 misses (7 voids; 28 still open)
- Lost before the 1 p.m. games kicked off
There were 232,747 individual combos of 21+ legs:
- 2,446 won (1.05%)
- 4,479 still open
The hit rate for the 51-100 bucket (1.55%) was higher than the 31-50 bucket (0.57%), but skewed by a fairly popular 71-leg multi-sport combo that came in.
Nothing over 100 legs hit (0 for 711).
Football trading Saturday + Sunday combined:
- Straight markets: $897 million (13% of total)
- Football combos: $3.1 billion (44%)
- Total: $4.0 billion (56%)
Football legs made up 63% of all combos for the weekend. Soccer was #2 at 14%.
About 8% of combo contracts had more than 20 legs.
I do a weekly podcast about prediction markets at The Event Horizon, and I am terrible at sharing clips from. This week, talked PM volume with @Eric_Ramsey of @TickerTracker_. Available on Spotify and Apple Podcasts
Sunday on Kalshi: Another volume record at $3.04 billion, just a few bucks ahead of Saturday. It is the sixth time Kalshi has bested its own single-day record in September.
Rams/Broncos moves to #2 on the list of NFL regular-season games, behind only Colts/Chiefs in Week 2.
@TickerTracker_ Nah, Kalshi has a fee accumulator to prevent rounding-up from costing you more than 1c per market. So it's maybe losing $26.13/day not $432/day. Likely just someone farming volume for a higher rate limit tier if I had to guess!