Analyst: On-chain prediction market fees are likely being underestimated; Kalshi's reported revenue of $110 million over the past 30 days is likely accurate.

Svmuu News: In response to Parity’s recently released ranking of prediction market revenues, crypto analyst dash posted on X, stating that Kalshi’s data is likely accurate. Based on its fee structure and publicly available taker transaction data, its fees amount to approximately $118 million. If transactions were conducted via Robinhood, a 1% nominal value estimate would be relatively accurate, with Kalshi’s nominal trading volume over the past 30 days reaching $11 billion. Additionally, fees for on-chain prediction markets are often underestimated. Currently, platforms like DefiLlama primarily track fees in USD or stablecoins, overlooking fees denominated in shares. When these fees are factored in, the actual fees for platforms such as Polymarket, predict.fun, and Limitless will be higher, with predict.fun being approximately 40% higher and Polymarket approximately 80% higher.