Kalshi’s annualized institutional trading volume recently reached $178 billion after rising roughly 800% over six months in 2026, while users’ most frequent market request concerns whether a partner will seek a divorce. Andy Ross, who joined Kalshi in March after senior roles at Morgan Stanley and Standard Chartered, said prediction markets operate more like commodity exchanges than sportsbooks because buyers trade against sellers through an order book. He also argued that Kalshi pricing could help fill an information gap as Kevin Warsh provides less forward guidance than Jerome Powell did as Federal Reserve chair. Traders have placed tens of millions of dollars on Kalshi and Polymarket markets tied to Fed rate decisions, amid public disagreements between Citadel Securities and prediction markets over the path of monetary policy.