If we consider Prediction Market as a Launchpad and view each selectable option in various event markets as a kind of token, then Kalshi has created over 1.6 million “tokens” in the past year alone.

Creating an event market is similar to creating a token, as both require liquidity to guide them. The difference is that, without additional new liquidity, the more tokens that are created, the more liquidity becomes dispersed. In Prediction Markets, however, because markets have expiration and resolution times, funds are reclaimed and redistributed after the event concludes, making it less susceptible to infinite dilution.

Although Kalshi has accumulated over 1.6 million options across different event markets, the vast majority have already been resolved and settled. The total number of active options in daily event markets is around 60,000–80,000, and on some days—especially influenced by sporting events—this can increase to over 100,000.

As mentioned before, over 90% of Kalshi’s daily trading volume is concentrated in the sports section, and the number of options in sports markets has exploded, especially since the start of the NFL season.

This brings us to another point: Kalshi’s widespread use of the Bucket (range option) + Player Props (player stat options) structure in sports. A single game is split into a large number of granular options. Put simply, a game isn’t just about win or lose—it’s also broken down into predictions for multiple score ranges, point spreads, and other intervals. Additionally, on the player level, the Player Stat template allows for a large number of options based on different metrics such as passing, interceptions, and more.