Branded demand for prediction markets in the United States has increased more than fivefold since August 2025, according to new data from Blask. The company said the rise has been sustained over eight consecutive months and comes without a single major macro event driving the category.
Blask said current demand remains about 49% below the all-time high recorded during the November 2024 US election cycle, which it described as a spike “largely driven by a single, high-impact event.” The current pattern, by contrast, suggests steadier engagement rather than an event-led surge.
The competitive landscape is increasingly concentrated. As of March 2026, Polymarket and Kalshi jointly account for around 94% of all branded demand in US prediction markets, Blask said, with both platforms gaining share during the expansion.
At the state level, Blask reported wide swings in the balance between the two leaders. Kansas is the most lopsided, with Polymarket at 95.5% of branded demand versus Kalshi’s 3.5%. Louisiana is closest, with Polymarket at 59% and Kalshi at 35.3%. Blask said California leads overall demand with 15.9% of total US branded demand, followed by New York at 10.8%.
Outside the top two, the rest of the market accounts for about 6% of branded demand, Blask said. Myriad holds under 1%, while Robinhood is the fastest-growing name tracked, with a year-over-year increase of +983.4% but a 0.24% share.
Alongside the data, Blask said it has launched a dedicated prediction market analytics feature to let operators track demand, competitive positioning and regional distribution in real time.
