{"id":18913,"date":"2025-12-17T18:37:26","date_gmt":"2025-12-17T18:37:26","guid":{"rendered":"https:\/\/apptopia.com\/en\/insights\/kalshi-has-its-own-audience-but-is-threatening-to-take-sportsbook-users\/"},"modified":"2026-03-10T20:40:54","modified_gmt":"2026-03-10T20:40:54","slug":"kalshi-has-its-own-audience-but-is-threatening-to-take-sportsbook-users","status":"publish","type":"insight","link":"https:\/\/apptopia.com\/en\/insights\/kalshi-has-its-own-audience-but-is-threatening-to-take-sportsbook-users\/","title":{"rendered":"Kalshi has its own audience, but is threatening to take sportsbook users"},"content":{"rendered":"\n<p>Kalshi, the predictions market platform, is growing mobile app daily active users. Giving the timing, the NFL season and College Football, have had a big impact on growth. While people love to bet on anything, betting on sports has a a large built-in audience.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"538\" src=\"https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/kalshi3-1024x538.png\" alt=\"\" class=\"wp-image-16736\" srcset=\"https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/kalshi3-1024x538.png 1024w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/kalshi3-300x158.png 300w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/kalshi3-768x403.png 768w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/kalshi3-1536x807.png 1536w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/kalshi3-2048x1076.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The percentage of Kalshi&#8217;s users who are also users of DraftKings and FanDuel is shrinking. Kalshi is attracting its own users, who are not users of sportsbooks. You can see that in the below visual, showing Cross-App Overlap. We define this as the percentage of primary app MAUs who also used the secondary app at least once in the past 30 days (rolling).<br><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"665\" src=\"https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/Kalshi2-1024x665.png\" alt=\"\" class=\"wp-image-16737\" srcset=\"https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/Kalshi2-1024x665.png 1024w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/Kalshi2-300x195.png 300w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/Kalshi2-768x499.png 768w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/Kalshi2-1536x997.png 1536w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/Kalshi2-2048x1330.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Both DraftKings and FanDuel have made it know they are working on their own prediction markets apps. It makes sense because right now their users are increasingly trialing Kalshi. The overlap has gone from almost nothing in early September 2025 to approaching 7% for FanDuel in early December.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"591\" src=\"https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/kalshi1-1024x591.png\" alt=\"\" class=\"wp-image-16738\" srcset=\"https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/kalshi1-1024x591.png 1024w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/kalshi1-300x173.png 300w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/kalshi1-768x443.png 768w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/kalshi1-1536x886.png 1536w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/kalshi1-2048x1181.png 2048w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Another red flag for DKNG and FLUT would be the growth in churn. Apptopia uses Churn as a user behavior stat, it shows the percentage of users who have not opened the app in the past 30 days after being active. Both sportsbooks have increased their churn rate, year-over-year, almost every week since September.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"822\" src=\"https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/sportsbook-churn@2x-1-1024x822.png\" alt=\"\" class=\"wp-image-16739\" srcset=\"https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/sportsbook-churn@2x-1-1024x822.png 1024w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/sportsbook-churn@2x-1-300x241.png 300w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/sportsbook-churn@2x-1-768x616.png 768w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/sportsbook-churn@2x-1-1536x1232.png 1536w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2025\/12\/sportsbook-churn@2x-1.png 1588w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>We also looked at Cross-App Impact. This looks at a cohort of DraftKings users who installed the Kalshi app. We&#8217;re then able to look at their Time Spent on DraftKings before the Kalshi install and after to see if it impacted Time Spent on the primary app. DraftKings users, on average, actually increased their Time Spent on the DraftKings Sportsbook app. FanDuel on the other hand saw Average Time Spent per DAU decrease 22% when comparing the 10 days before installing Kalshi to the 10 days after.<\/p>\n\n\n\n<p>Once DraftKings and FanDuel launch their own prediction market apps, we could see a loss of users for Kalshi, especially in states where sports betting is legal. Why use two apps when you could just use one?<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Questions on the underlying data included in this analysis?<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/engage.apptopia.com\/custom-research-request\" target=\"_blank\" rel=\"noreferrer noopener\">Let&#8217;s Talk<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Kalshi, the predictions market platform, is growing mobile app daily active users. Giving the timing, the NFL season and College Football, have had a big impact on growth. While people love to bet on anything, betting on sports has a a large built-in audience. The percentage of Kalshi&#8217;s users who are also users of DraftKings [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":16740,"comment_status":"open","ping_status":"open","template":"","insight_category":[229],"insight_tag":[247,248,249],"class_list":["post-18913","insight","type-insight","status-publish","has-post-thumbnail","hentry","insight_category-sports-betting","insight_tag-dkng","insight_tag-flut","insight_tag-kalshi"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Kalshi has its own audience, but is threatening to take sportsbook users - Apptopia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/apptopia.com\/en\/insights\/kalshi-has-its-own-audience-but-is-threatening-to-take-sportsbook-users\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kalshi has its own audience, but is threatening to take sportsbook users - Apptopia\" \/>\n<meta property=\"og:description\" content=\"Kalshi, the predictions market platform, is growing mobile app daily active users. Giving the timing, the NFL season and College Football, have had a big impact on growth. While people love to bet on anything, betting on sports has a a large built-in audience. 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