Polymarket tests parlays as Kalshi fees hit $25M

• Polymarket US processed $7.4 million in parlay volume during an API-only beta launched on August 5.
• Kalshi generated $25 million in parlay taker fees during the first 16 days of August.
• Polymarket’s parlay product remains limited to enabled API users and has not appeared in its consumer app.

Polymarket US processed its first multi-leg sports trade on August 5, generating $7.4 million in volume.

The beta recorded 16,173 trades and $928,093 in stakes from users taking contracts, according to InGame data.

Polymarket’s parlay product lets users combine two to 10 sports outcomes into one contract that pays $1 if every leg wins.

The product remains unavailable in the Polymarket US app and is currently accessible only to approved API users.

Kalshi’s parlay volume rose from $4.77 billion in May to $13.78 billion in July, with InGame recording $25 million in taker fees during August’s first 16 days.

Reports that Kalshi would introduce maker fees on parlays from August 20 came from a trader’s post, while its published fee schedule showed no planned change.

Polymarket charges up to $1.50 per 100 contracts and offers rebates to some market makers under its current fee structure.