Polymarket to Introduce Parlays, Referred as Combinatoric Athletic Outcome Contracts

(AsiaGameHub) –   As it scales its operations in the United States, Polymarket is gearing up to introduce parlay betting to its platform. These multi-leg bets have seen a surge in popularity on rival platform Kalshi, serving as a major catalyst for its recent trading volume growth.

While these wagers tempt users with the promise of massive payouts, they serve as highly lucrative revenue generators for operators. In fact, parlays account for up to 70% of total sportsbook profits.

In its submission to the Commodity Futures Trading Commission (CFTC), Polymarket avoided the term “parlays,” opting instead to label them as Combinatoric Athletic Outcome Contracts.

Polymarket U.S. submits CFTC filing to introduce parlays, designated as “Combinatoric Athletic Outcome Contracts” pic.twitter.com/IwBFJjJyaZ

— Dan Bernstein (@dan_bernstein_) May 20, 2026

Parlay Bets Fueling Revenue Growth for Kalshi

Kalshi initially self-certified parlay contracts in September of last year, progressively broadening the selection of markets that traders can bundle together.

These bets have rapidly turned into a primary driver of activity on the platform. According to a report by Dustin Gouker, Kalshi’s trading volume climbed to $14.8 billion in April from $13 billion the previous month, with parlays accounting for roughly $1.2 billion of that $1.8 billion month-over-month increase.

Data from Sportico reveals that Kalshi traders have dropped over $117 million on parlays so far this year out of $800 million total wagers, with Kalshi pocketing $35 million in fees. While parlays represented a mere 1.8% of overall volume in October shortly after their debut, that figure surged to a record 22% last month.

Liquidity providers like Susquehanna sit on the opposite side of these trades, answering Request for Quotes (RFQs). Through its API, Kalshi shares user identification details with these market makers, who essentially function as the house in a manner similar to traditional sportsbooks.

According to DraftKings co-founder Matt Kalish, this setup allows Kalshi to restrict successful traders much like sportsbooks cap winning bettors, as market makers can simply decline quote requests from consistently profitable accounts.

Kalish criticized the platform’s stance as hypocritical, pointing out that it distances itself from being labeled a gambling site while simultaneously limiting profitable users, relying heavily on parlays for income, and joining the National Council on Problem Gambling (NCPG).

Polymarket Sees Surge in US Trading Volume Amid App Rollout

Following its CFTC clearance last year, Polymarket’s US relaunch has progressed slowly. Despite initial expectations of a nationwide rollout last November, the platform kept the majority of interested users waitlisted for months.

However, momentum is finally shifting. Daily sports trading volume from US-based participants has jumped to over $22 million this month, a significant rise from only a few million in March.

Although Kalshi maintains a commanding lead with roughly $134 million in daily sports trading, the introduction of parlay contracts could help Polymarket close the distance.

DraftKings Introduces Parlay Options to Its Prediction Market

Earlier this month, DraftKings also rolled out parlay features on its own prediction market platform. CFO Alan Ellingson expressed confidence that the operator’s competitive pricing and trading proficiency will draw in customers.

“Prediction markets still have massive room to run,” Ellingson remarked. “I am highly optimistic and believe this will turn into an incredible growth narrative.”

Additionally, DraftKings has signaled plans to bring micro-betting to prediction markets. Co-founder Paul Liberman noted that he anticipates a broader selection of available markets in the near future.

“In the sports sector, I believe we will witness the emergence of quicker, highly dynamic micro-markets that are currently unavailable. We are already seeing this evolution with RFQs and parlays,” Liberman commented. “Innovation will likely persist, making sports prediction markets increasingly fluid and adaptable.”

These rapid-fire wagers—such as betting on an individual baseball pitch or a single football play—have drawn criticism for potentially exacerbating gambling addiction.

DraftKings is currently dealing with a lawsuit filed by the Public Health Advocacy Institute (PHAI), which claims the operator “hijacks customers’ brains and inflicts severe harm” by aggressively promoting micro-betting options.