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Kelley also cited improvements at Robinhood as a possible factor for the regression at Kalshi. Just before the NFL season, Robinhood took a minority stake in Crypto.com and struck a deal to begin routing NFL contracts to OG.com, the site’s regulated prediction market platform.
A 40% weekly increase at Crypto.com combined with the attrition at Kalshi may reflect the enormity of the Robinhood deal, according to Kelley.
With all activity, beyond just football, Crypto.com recorded trading volume of $350 million for the week, figures from The PM Pulse show. The newsletter, which is in partnership with Aldrin Research for monitoring industry trends, indicated that Crypto saw weekly growth of 41%. While Kalshi and Polymarket accounted for more than $15 billion in weekly volume, four others recorded activity of at least $300 million. Buoyed by a popular Sydney Sweeney ad, Novig increased volume by nearly 34% on the week.
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“Looking back over the past two years, the regulation has achieved its primary objective: creating a safer and more transparent market. It has established common standards for all licensed operators, particularly around KYC, AML and responsible gaming, ensuring that customers receive a more consistent experience regardless of the platform they choose.”
Atucha praises the regulation and the regulators themselves for making entry into the market easy, as well as allowing them to be competitive against illegal operators. But the market hasn’t been without its challenges.
A 1% selective consumption tax (ISC) on the value of every online bet has been in force since 1 July 2025, after the original policy was scrapped from proposed regulations in July 2021.
About Happy Nets
The interest here sits less in the frontier-and-bison theme, a heavily worked category, than in how the studio has engineered its bonus play. The game is set on a supernatural Grand Canyon frontier where three crystal-linked Free Spins features can arrive alone, in pairs or all three together.
That modular approach is the reason the release stands out in a crowded segment. Rather than funneling players into one static bonus, Play’n GO gives Triple Beasts of Fortune multiple entry points that can stack. This changes how volatility and payout potential accumulate across a session.
The design is organized around color-coded Crystal Scatters, each tied to a distinct feature path. Every color is paired with a matching skull display and feature path: green for Upgrade, blue for Expand and red for Multiplier, and each feature awards seven spins as standard.