Morgan Stanley Joins Kalshi Amid Record-Breaking Prediction Market Growth

Kalshi's prediction market has reached new heights in Q3 2026, with over 1.1 billion transactions, more than double the number from Q1 2026 and a significant jump from the previous quarter.

CryptoRank attributed this growth to Kalshi's dominance in the sector, making it the largest driver of Q3 growth. Morgan Stanley has also joined NEXTPredict as a strategic partner, further solidifying its position in the industry.

The Sixth Circuit ruled that Kalshi's sports contracts are not swaps under federal commodities law, adding to the already fractured legal picture and leaving the sector without clear regulatory guidance.