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Two operators alone – Kalshi and Polymarket – topped the combined $1 billion mark in NFL trading activity over the first six days of Week 1, according to numerous measures this week. During the period, Kalshi recorded NFL volume of $983.4 million, according to DeFi Rate, earning the pole position by a large margin. Mahomes and the Kansas City Chiefs thrashed the Denver Broncos 31-10 on Monday Night Football, capping the largest week for prediction markets ever.
Even before the primetime matchup in Kansas City, it became abundantly clear that the industry would shatter previous marks for weekly activity. The AFC West showdown bolstered the already robust totals. Overall, volume for the week hit a record $15.9 billion, according to Bank of America, up 16% from a week earlier.
The pure-play prediction market-operators, Polymarket and Kalshi, emerged from Week 1 as the clear winners. On one hand, Kalshi’s market share lead narrowed over its competitors, falling to 82% for the week ended 13 September, down from 86% a week earlier.
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Despite the revenue growth, land-based gross profit dipped 0.7% to R2 billion, largely due to the heightened investment in marketing.
“Looking ahead, as land-based gaming evolves into a more digital and experience-led environment, these initiatives, together with the implementation of a low-cost operating model, are expected to improve performance, increase market share, profitability and generate stronger returns over the medium term,” the company said.
Alongside gaming, hospitality revenue rose 2.8% to R1.29 billion despite an impact of around R20 million from war-related cancellations.
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Last month, US President Donald Trump made an impromptu visit to Las Vegas, hosting a rally at Red Rock. Trump called the Fertittas a “beautiful family” during his remarks. Culinary, meanwhile, denounced the event and the Fertittas’ support of Trump and Nevada’s Republican Governor Joe Lombardo.
“As Lombardo runs for re-election in a state built and run by unionised hospitality workers, Culinary Union is demanding to know why the governor stands with Station Casinos and Trump’s harmful economic agenda instead of fighting and delivering for the working people who power Nevada’s economy,” the union said in a statement at the time.
Jess has covered the global gaming industry since 2022. A native of Reno, Nevada, he’d like to note that it’s Ne-va-da, not Ne-VAH-da.
