Super Bowl turnover exceeded $1 billion, Calci says

Calcci saw trading volume exceed $1 billion on Super Bowl Sunday, reaching a daily record, according to CEO Tariq Mansour.

That volume was up 2,700% year over year, according to the company. The platform allows users to purchase event contracts for hits in politics, popular culture, financial markets, and sports.

“It was a great weekend,” Mansour told CNBC’s “Squawk Box” on Tuesday. “Calce was the biggest brand in the Super Bowl this year, short of running a Super Bowl ad, and the way we achieved that is with the product.”

Mansour said that the trading volume for the opening song by Bad Bunny exceeded $100 million, while bets on who would sing with Bad Bunny exceeded $45 million.

However, the platform’s Super Bowl decades have not been without its bumps. Co-founder Luana Lopes Lara posted on social media during the game that some users’ deposits were delayed due to high traffic.

“Your money is safe and on the way, it will just take longer to arrive,” she wrote.

Calci has recently come under fire along with other prediction markets as skepticism grows around the industry, with fears of insider trading. Last week, ahead of the Super Bowl, the platform announced additional efforts to expand its monitoring and enforcement efforts to identify and remove accounts engaging in insider trading.

“The risks of insider trading are very real for the stock market as well,” Mansour said on Tuesday.

“As a financial market regulated by the Commodity Futures Trading Commission, we have the same rules as the Nasdaq and the New York Stock Exchange, and we have the same enforcement mechanism,” he added.

Mansour said that during the past year, the platform conducted 200 investigations and froze the relevant accounts, and some of them were referred to law enforcement agencies for prosecution.

Disclosure: CNBC and Kalshi have a business relationship that includes a minority investment.