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first_img Kalshi's U.S. traffic surged by 1520% in a year, with monthly trading volume reaching 40 billion USD

According to Cointelegraph, the U.S. website traffic for the prediction market platform Kalshi has increased by over 1500% in the past year. Data from Similarweb shows that in July, traffic from the U.S. reached 15.4 million visits, a growth of about 1520% compared to less than 1 million visits in August 2025, with U.S. traffic accounting for nearly 80% of its total traffic. Meanwhile, Kalshi's nominal monthly trading volume in August reached approximately $40 billion, a growth of about 4500% compared to $874 million a year ago.The nominal monthly trading volume for the entire prediction market industry increased from about $2 billion to $50.7 billion during the same period, with Kalshi accounting for nearly 79%. According to Barron's, sports contracts accounted for 83% of Kalshi's trading volume in July. Kalshi is currently facing increasing legal challenges, with New Jersey having submitted the dispute to the U.S. Supreme Court, and Michigan authorities continuing to seek to block its operations.In terms of restricted jurisdictions, Canada brought about 450,000 visits to the Kalshi website in July, a significant increase from about 50,000 in August 2025; traffic from the UK also rose from 31,000 to 296,000. Although both countries are regions where Kalshi's membership agreement prohibits direct access or trading, Kalshi partnered with Canadian financial services company Wealthsimple in June to provide access to nearly 4,000 eligible contracts through a standalone application.

first_img Bitcoin's correlation with gold has risen to a six-year high, Bitwise states that depreciation hedging trades are making a comeback

Bitwise's latest report shows that the correlation between Bitcoin and gold has risen to a six-year high. Bitwise's Head of Research for Europe, André Dragosch, stated that the last time the correlation reached this level was in 2020, during the period of multiple fiscal and monetary stimulus following the COVID-19 pandemic; meanwhile, the correlation between Bitcoin and the stock market has dropped to a one-year low, suggesting a decoupling between hard assets and the stock market.The report believes that the simultaneous rise of Bitcoin and gold is due to the "substantial intervention in the macro picture" by the U.S. government. Last month, the U.S. Treasury announced it would more than double the scale of government debt buybacks, leading to a weakening of the dollar, and investors flocked back to gold and Bitcoin; in the same week, U.S. public debt surpassed $40 trillion for the first time, further undermining market confidence in the dollar. Bitwise stated that investors are no longer entangled in whether to hedge against currency depreciation with gold or Bitcoin, but are holding both simultaneously, and pointed out that "Bitcoin has been priced as a risk asset for its first fifteen years, and if this correlation trend continues, the next fifteen years could be very different."Driven by this, Bitcoin rose again this week, increasing nearly 6% within 24 hours, with the price briefly approaching $81,438.
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