Kalshi's portfolio betting resulted in losses exceeding $1 billion for active traders, while market makers profited $520 million.

Since Kalshi launched portfolio betting in September 2025, active traders have accumulated losses of approximately $1.004 billion, including $608.9 million in trading losses and approximately $400 million in fees. Active traders have invested approximately $7.1 billion, with a total portfolio betting trading volume of $165.6 billion. Market makers, after deducting fees, have accumulated profits of approximately $519.8 million. (Source: InGame)