{
  "schemaVersion": "vultax-public-research-data-v1",
  "articleUrl": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards",
  "datasets": [
    {
      "title": "Polymarket: $150,000 a day, spread thin",
      "columns": [
        {
          "name": "Category",
          "unit": null
        },
        {
          "name": "Open markets",
          "unit": null
        },
        {
          "name": "With rewards",
          "unit": null
        },
        {
          "name": "Rewards a day",
          "unit": null
        },
        {
          "name": "Share of rewards",
          "unit": null
        },
        {
          "name": "Share of 24h volume",
          "unit": null
        },
        {
          "name": "Rewards per $1,000 traded",
          "unit": null
        }
      ],
      "rows": [
        [
          "Politics",
          "23,871",
          "24.5%",
          "$42,590",
          "28.4%",
          "40.3%",
          "$2.65"
        ],
        [
          "Sports",
          "139,495",
          "4.9%",
          "$33,226",
          "22.2%",
          "36.4%",
          "$2.29"
        ],
        [
          "Finance",
          "2,266",
          "45.9%",
          "$20,704",
          "13.8%",
          "2.4%",
          "$21.56"
        ],
        [
          "Weather",
          "3,030",
          "22.8%",
          "$20,220",
          "13.5%",
          "3.5%",
          "$14.49"
        ],
        [
          "Other",
          "3,770",
          "19.0%",
          "$9,517",
          "6.4%",
          "1.2%",
          "$20.55"
        ],
        [
          "Crypto, excluding up-or-down",
          "2,599",
          "45.5%",
          "$6,366",
          "4.2%",
          "7.0%",
          "$2.29"
        ],
        [
          "Economy",
          "948",
          "39.1%",
          "$6,101",
          "4.1%",
          "1.2%",
          "$12.97"
        ],
        [
          "Tech",
          "2,339",
          "24.1%",
          "$6,005",
          "4.0%",
          "0.8%",
          "$19.47"
        ],
        [
          "Geopolitics",
          "380",
          "70.8%",
          "$3,087",
          "2.1%",
          "1.6%",
          "$4.76"
        ],
        [
          "Crypto up-or-down",
          "3,368",
          "0.4%",
          "$962",
          "0.6%",
          "0.2%",
          "$12.65"
        ],
        [
          "Esports",
          "3,862",
          "6.6%",
          "$927",
          "0.6%",
          "5.5%",
          "$0.42"
        ],
        [
          "Science",
          "31",
          "35.5%",
          "$128",
          "0.1%",
          "0.0%",
          "$9.94"
        ],
        [
          "All open markets",
          "185,959",
          "9.6%",
          "$149,833",
          "100%",
          "100%",
          "$3.75"
        ]
      ],
      "measurementContext": "Markets open for trading on Polymarket's international exchange, 00:01–00:03 UTC on 14 September 2026, joined to the reward list read at 23:57 UTC on 13 September. Six rewarded markets were no longer open and are excluded, so the total is $26 below the endpoint's $149,859. 24-hour volume across these markets was $39,954,321.",
      "sources": [
        {
          "label": "Polymarket CLOB — current liquidity rewards",
          "url": "https://clob.polymarket.com/rewards/markets/current",
          "note": "Every rewarded market with daily rate, maximum spread and minimum size, 23:57 UTC 13 September 2026"
        },
        {
          "label": "Polymarket Gamma API — open events",
          "url": "https://gamma-api.polymarket.com/events/keyset?closed=false",
          "note": "Every open event and market with tags, 24-hour volume and spread, 00:01–00:03 UTC 14 September 2026"
        },
        {
          "label": "Polymarket documentation — Liquidity Rewards",
          "url": "https://docs.polymarket.com/programs/liquidity-rewards",
          "note": "Daily payout at midnight UTC, $1 minimum, scoring formula"
        },
        {
          "label": "Polymarket documentation — Maker Rebates Program",
          "url": "https://docs.polymarket.com/programs/maker-rebates",
          "note": "Share of taker fees returned to makers by category"
        },
        {
          "label": "Kalshi public trade API — incentive programs",
          "url": "https://api.elections.kalshi.com/trade-api/v2/incentive_programs",
          "note": "207,407 programs with market, dates, pool and paid-out status, 23:57 UTC 13 September 2026"
        },
        {
          "label": "Kalshi API reference — Get Incentives",
          "url": "https://docs.kalshi.com/api-reference/incentive-programs/get-incentives",
          "note": "Field definitions, including pools reported in centi-cents"
        },
        {
          "label": "Kalshi public trade API — series",
          "url": "https://api.elections.kalshi.com/trade-api/v2/series",
          "note": "Category for each of 14,018 series"
        },
        {
          "label": "Vultax: Where the money waits on Kalshi and Polymarket",
          "url": "https://vultax.com/research/kalshi-polymarket-open-interest-by-category",
          "note": "Open interest by category, 13 September 2026"
        },
        {
          "label": "Vultax: Esports and NFL order-book depth",
          "url": "https://vultax.com/research/polymarket-sports-and-esports-markets",
          "note": "Depth within 2 cents before start on both venues"
        }
      ],
      "measurement": {
        "kind": "observed",
        "temporalCoverage": "2026-09-13T23:57Z/2026-09-14T00:03Z",
        "population": "185,959 open Polymarket markets",
        "methodology": "Each market assigned one category from its event tags; daily reward rates and 24-hour volume summed by category."
      },
      "id": "polymarket-table",
      "kind": "published-table",
      "description": "Vultax read every liquidity reward on Polymarket and Kalshi on 13 September 2026. Polymarket offered $149,859 a day across 17,866 markets, with finance and weather taking 27% of it on 6% of trading; Kalshi's programs paid out $2.95 million in 30 days, in pools with a median of $20.",
      "articleUrl": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards",
      "sectionUrl": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards#polymarket",
      "publishedAt": "2026-09-17",
      "modifiedAt": "2026-09-17",
      "version": "0690c1e1df6cb19e7047dff05aeb9815731f09fbcb0ccc5c398b87981ac89373",
      "isLive": false,
      "limitations": "Published research snapshots and calculations; these exports do not contain current quotes or live account data. Observation windows and populations are stated in the source captions and methodology. Missing metadata is unknown, not zero. Readings of both venues' public reward data on 13–14 September 2026. Polymarket posts daily reward amounts and Kalshi posts pools per program, so the two totals measure different things. Nothing here is a recommendation to trade or financial advice.",
      "downloads": {
        "json": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards/data.json?dataset=polymarket-table",
        "csv": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards/data.csv?dataset=polymarket-table"
      }
    },
    {
      "title": "Polymarket rewards do not follow trading",
      "columns": [
        {
          "name": "Category",
          "unit": null
        },
        {
          "name": "Share of daily rewards",
          "unit": "%"
        },
        {
          "name": "Share of 24-hour volume",
          "unit": "%"
        }
      ],
      "rows": [
        [
          "Politics",
          28.4,
          40.3
        ],
        [
          "Sports",
          22.2,
          36.4
        ],
        [
          "Finance",
          13.8,
          2.4
        ],
        [
          "Weather",
          13.5,
          3.5
        ],
        [
          "Crypto",
          4.2,
          7
        ],
        [
          "Economy",
          4.1,
          1.2
        ],
        [
          "Tech",
          4,
          0.8
        ],
        [
          "Geopolitics",
          2.1,
          1.6
        ],
        [
          "Esports",
          0.6,
          5.5
        ]
      ],
      "measurementContext": "Share of daily liquidity rewards and share of 24-hour volume by category, open markets on 13–14 September 2026. Crypto excludes up-or-down markets; smaller categories are in the table.",
      "sources": [
        {
          "label": "Polymarket CLOB — current liquidity rewards",
          "url": "https://clob.polymarket.com/rewards/markets/current",
          "note": "Every rewarded market with daily rate, maximum spread and minimum size, 23:57 UTC 13 September 2026"
        },
        {
          "label": "Polymarket Gamma API — open events",
          "url": "https://gamma-api.polymarket.com/events/keyset?closed=false",
          "note": "Every open event and market with tags, 24-hour volume and spread, 00:01–00:03 UTC 14 September 2026"
        },
        {
          "label": "Polymarket documentation — Liquidity Rewards",
          "url": "https://docs.polymarket.com/programs/liquidity-rewards",
          "note": "Daily payout at midnight UTC, $1 minimum, scoring formula"
        },
        {
          "label": "Polymarket documentation — Maker Rebates Program",
          "url": "https://docs.polymarket.com/programs/maker-rebates",
          "note": "Share of taker fees returned to makers by category"
        },
        {
          "label": "Kalshi public trade API — incentive programs",
          "url": "https://api.elections.kalshi.com/trade-api/v2/incentive_programs",
          "note": "207,407 programs with market, dates, pool and paid-out status, 23:57 UTC 13 September 2026"
        },
        {
          "label": "Kalshi API reference — Get Incentives",
          "url": "https://docs.kalshi.com/api-reference/incentive-programs/get-incentives",
          "note": "Field definitions, including pools reported in centi-cents"
        },
        {
          "label": "Kalshi public trade API — series",
          "url": "https://api.elections.kalshi.com/trade-api/v2/series",
          "note": "Category for each of 14,018 series"
        },
        {
          "label": "Vultax: Where the money waits on Kalshi and Polymarket",
          "url": "https://vultax.com/research/kalshi-polymarket-open-interest-by-category",
          "note": "Open interest by category, 13 September 2026"
        },
        {
          "label": "Vultax: Esports and NFL order-book depth",
          "url": "https://vultax.com/research/polymarket-sports-and-esports-markets",
          "note": "Depth within 2 cents before start on both venues"
        }
      ],
      "measurement": {
        "kind": "observed",
        "temporalCoverage": "2026-09-13T23:57Z/2026-09-14T00:03Z",
        "population": "185,959 Polymarket markets open for trading, 17,860 of them with liquidity rewards",
        "methodology": "Daily reward rate from the current-rewards endpoint summed by category and divided by the total; 24-hour volume from the Gamma API for the same markets."
      },
      "id": "polymarket-chart",
      "kind": "published-chart",
      "description": "Vultax read every liquidity reward on Polymarket and Kalshi on 13 September 2026. Polymarket offered $149,859 a day across 17,866 markets, with finance and weather taking 27% of it on 6% of trading; Kalshi's programs paid out $2.95 million in 30 days, in pools with a median of $20.",
      "articleUrl": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards",
      "sectionUrl": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards#polymarket",
      "publishedAt": "2026-09-17",
      "modifiedAt": "2026-09-17",
      "version": "f5bb4ab120c65b57576cd8a7454d6566c688ced03a0cb551e460e496696f81bf",
      "isLive": false,
      "limitations": "Published research snapshots and calculations; these exports do not contain current quotes or live account data. Observation windows and populations are stated in the source captions and methodology. Missing metadata is unknown, not zero. Readings of both venues' public reward data on 13–14 September 2026. Polymarket posts daily reward amounts and Kalshi posts pools per program, so the two totals measure different things. Nothing here is a recommendation to trade or financial advice.",
      "downloads": {
        "json": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards/data.json?dataset=polymarket-chart",
        "csv": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards/data.csv?dataset=polymarket-chart"
      }
    },
    {
      "title": "Kalshi: $2.95 million in 30 days, mostly in $20 pools",
      "columns": [
        {
          "name": "Kalshi category",
          "unit": null
        },
        {
          "name": "Programs",
          "unit": null
        },
        {
          "name": "Series",
          "unit": null
        },
        {
          "name": "Pools paid out",
          "unit": null
        },
        {
          "name": "Share",
          "unit": null
        }
      ],
      "rows": [
        [
          "Economics",
          "8,228",
          "223",
          "$789,715",
          "26.8%"
        ],
        [
          "Entertainment",
          "5,059",
          "79",
          "$455,080",
          "15.4%"
        ],
        [
          "Financials",
          "5,792",
          "220",
          "$286,225",
          "9.7%"
        ],
        [
          "Sports",
          "8,805",
          "59",
          "$246,510",
          "8.4%"
        ],
        [
          "Climate and Weather",
          "2,422",
          "36",
          "$219,200",
          "7.4%"
        ],
        [
          "Crypto",
          "9,163",
          "18",
          "$197,940",
          "6.7%"
        ],
        [
          "Commodities",
          "8,574",
          "8",
          "$176,280",
          "6.0%"
        ],
        [
          "Elections",
          "1,805",
          "143",
          "$174,605",
          "5.9%"
        ],
        [
          "Mentions",
          "1,577",
          "38",
          "$157,700",
          "5.3%"
        ],
        [
          "Politics",
          "1,263",
          "176",
          "$153,257",
          "5.2%"
        ],
        [
          "Science and Technology",
          "1,021",
          "50",
          "$82,890",
          "2.8%"
        ],
        [
          "Companies",
          "70",
          "7",
          "$12,070",
          "0.4%"
        ],
        [
          "AI",
          "2",
          "1",
          "$570",
          "0.0%"
        ],
        [
          "All",
          "53,781",
          "1,058",
          "$2,952,042",
          "100%"
        ]
      ],
      "measurementContext": "Kalshi incentive programs that ended between 14 August and 12 September 2026 and were marked paid out, read at 23:57 UTC on 13 September 2026. Categories are Kalshi's own series categories.",
      "sources": [
        {
          "label": "Polymarket CLOB — current liquidity rewards",
          "url": "https://clob.polymarket.com/rewards/markets/current",
          "note": "Every rewarded market with daily rate, maximum spread and minimum size, 23:57 UTC 13 September 2026"
        },
        {
          "label": "Polymarket Gamma API — open events",
          "url": "https://gamma-api.polymarket.com/events/keyset?closed=false",
          "note": "Every open event and market with tags, 24-hour volume and spread, 00:01–00:03 UTC 14 September 2026"
        },
        {
          "label": "Polymarket documentation — Liquidity Rewards",
          "url": "https://docs.polymarket.com/programs/liquidity-rewards",
          "note": "Daily payout at midnight UTC, $1 minimum, scoring formula"
        },
        {
          "label": "Polymarket documentation — Maker Rebates Program",
          "url": "https://docs.polymarket.com/programs/maker-rebates",
          "note": "Share of taker fees returned to makers by category"
        },
        {
          "label": "Kalshi public trade API — incentive programs",
          "url": "https://api.elections.kalshi.com/trade-api/v2/incentive_programs",
          "note": "207,407 programs with market, dates, pool and paid-out status, 23:57 UTC 13 September 2026"
        },
        {
          "label": "Kalshi API reference — Get Incentives",
          "url": "https://docs.kalshi.com/api-reference/incentive-programs/get-incentives",
          "note": "Field definitions, including pools reported in centi-cents"
        },
        {
          "label": "Kalshi public trade API — series",
          "url": "https://api.elections.kalshi.com/trade-api/v2/series",
          "note": "Category for each of 14,018 series"
        },
        {
          "label": "Vultax: Where the money waits on Kalshi and Polymarket",
          "url": "https://vultax.com/research/kalshi-polymarket-open-interest-by-category",
          "note": "Open interest by category, 13 September 2026"
        },
        {
          "label": "Vultax: Esports and NFL order-book depth",
          "url": "https://vultax.com/research/polymarket-sports-and-esports-markets",
          "note": "Depth within 2 cents before start on both venues"
        }
      ],
      "measurement": {
        "kind": "observed",
        "temporalCoverage": "2026-08-14/2026-09-12",
        "population": "53,781 paid-out Kalshi incentive programs",
        "methodology": "Pools converted from centi-cents to dollars and summed by the category of each program's series."
      },
      "id": "kalshi-table",
      "kind": "published-table",
      "description": "Vultax read every liquidity reward on Polymarket and Kalshi on 13 September 2026. Polymarket offered $149,859 a day across 17,866 markets, with finance and weather taking 27% of it on 6% of trading; Kalshi's programs paid out $2.95 million in 30 days, in pools with a median of $20.",
      "articleUrl": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards",
      "sectionUrl": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards#kalshi",
      "publishedAt": "2026-09-17",
      "modifiedAt": "2026-09-17",
      "version": "b939e2ffb5ed0f88169d348ce6750c396bdd5f448a5e5fe74a72c2dfca421075",
      "isLive": false,
      "limitations": "Published research snapshots and calculations; these exports do not contain current quotes or live account data. Observation windows and populations are stated in the source captions and methodology. Missing metadata is unknown, not zero. Readings of both venues' public reward data on 13–14 September 2026. Polymarket posts daily reward amounts and Kalshi posts pools per program, so the two totals measure different things. Nothing here is a recommendation to trade or financial advice.",
      "downloads": {
        "json": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards/data.json?dataset=kalshi-table",
        "csv": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards/data.csv?dataset=kalshi-table"
      }
    },
    {
      "title": "Kalshi reward pools paid out, by month the program ended",
      "columns": [
        {
          "name": "Category",
          "unit": null
        },
        {
          "name": "Paid-out pools",
          "unit": "$"
        }
      ],
      "rows": [
        [
          "Oct 25",
          198545
        ],
        [
          "Nov 25",
          256121
        ],
        [
          "Dec 25",
          232880
        ],
        [
          "Jan 26",
          268290
        ],
        [
          "Feb 26",
          383058
        ],
        [
          "Mar 26",
          610684
        ],
        [
          "Apr 26",
          979331
        ],
        [
          "May 26",
          1688335
        ],
        [
          "Jun 26",
          1101045
        ],
        [
          "Jul 26",
          2198437
        ],
        [
          "Aug 26",
          2473663
        ]
      ],
      "measurementContext": "Dollars, October 2025 to August 2026. Programs marked paid out only.",
      "sources": [
        {
          "label": "Polymarket CLOB — current liquidity rewards",
          "url": "https://clob.polymarket.com/rewards/markets/current",
          "note": "Every rewarded market with daily rate, maximum spread and minimum size, 23:57 UTC 13 September 2026"
        },
        {
          "label": "Polymarket Gamma API — open events",
          "url": "https://gamma-api.polymarket.com/events/keyset?closed=false",
          "note": "Every open event and market with tags, 24-hour volume and spread, 00:01–00:03 UTC 14 September 2026"
        },
        {
          "label": "Polymarket documentation — Liquidity Rewards",
          "url": "https://docs.polymarket.com/programs/liquidity-rewards",
          "note": "Daily payout at midnight UTC, $1 minimum, scoring formula"
        },
        {
          "label": "Polymarket documentation — Maker Rebates Program",
          "url": "https://docs.polymarket.com/programs/maker-rebates",
          "note": "Share of taker fees returned to makers by category"
        },
        {
          "label": "Kalshi public trade API — incentive programs",
          "url": "https://api.elections.kalshi.com/trade-api/v2/incentive_programs",
          "note": "207,407 programs with market, dates, pool and paid-out status, 23:57 UTC 13 September 2026"
        },
        {
          "label": "Kalshi API reference — Get Incentives",
          "url": "https://docs.kalshi.com/api-reference/incentive-programs/get-incentives",
          "note": "Field definitions, including pools reported in centi-cents"
        },
        {
          "label": "Kalshi public trade API — series",
          "url": "https://api.elections.kalshi.com/trade-api/v2/series",
          "note": "Category for each of 14,018 series"
        },
        {
          "label": "Vultax: Where the money waits on Kalshi and Polymarket",
          "url": "https://vultax.com/research/kalshi-polymarket-open-interest-by-category",
          "note": "Open interest by category, 13 September 2026"
        },
        {
          "label": "Vultax: Esports and NFL order-book depth",
          "url": "https://vultax.com/research/polymarket-sports-and-esports-markets",
          "note": "Depth within 2 cents before start on both venues"
        }
      ],
      "measurement": {
        "kind": "observed",
        "temporalCoverage": "2025-10-01/2026-08-31",
        "population": "Kalshi incentive programs ending October 2025 to August 2026 and marked paid out",
        "methodology": "Pool (period_reward, centi-cents) converted to dollars and summed by the month of each program's end date."
      },
      "id": "kalshi-chart",
      "kind": "published-chart",
      "description": "Vultax read every liquidity reward on Polymarket and Kalshi on 13 September 2026. Polymarket offered $149,859 a day across 17,866 markets, with finance and weather taking 27% of it on 6% of trading; Kalshi's programs paid out $2.95 million in 30 days, in pools with a median of $20.",
      "articleUrl": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards",
      "sectionUrl": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards#kalshi",
      "publishedAt": "2026-09-17",
      "modifiedAt": "2026-09-17",
      "version": "45d1a8bdeaf8ec338966ddb1b49ec7fb132e56550614365cd26e6faa4696e6df",
      "isLive": false,
      "limitations": "Published research snapshots and calculations; these exports do not contain current quotes or live account data. Observation windows and populations are stated in the source captions and methodology. Missing metadata is unknown, not zero. Readings of both venues' public reward data on 13–14 September 2026. Polymarket posts daily reward amounts and Kalshi posts pools per program, so the two totals measure different things. Nothing here is a recommendation to trade or financial advice.",
      "downloads": {
        "json": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards/data.json?dataset=kalshi-chart",
        "csv": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards/data.csv?dataset=kalshi-chart"
      }
    },
    {
      "title": "How each venue pays",
      "columns": [
        {
          "name": "",
          "unit": null
        },
        {
          "name": "Polymarket",
          "unit": null
        },
        {
          "name": "Kalshi",
          "unit": null
        }
      ],
      "rows": [
        [
          "Posted as",
          "A daily reward amount per market: $149,859 a day across 17,866 markets",
          "A pool per market for a set period: 2,514 programs running with $383,337 in pools"
        ],
        [
          "Typical size",
          "Median $3 a day; 882 markets at $50 or more",
          "Median pool $20 over the 30 days; $100 on 1,538 of the running programs"
        ],
        [
          "Qualifying orders",
          "Resting orders within the market's maximum spread from the midpoint (4.5 cents on 74% of markets) and above its minimum order size (20 on 79%)",
          "Each program lists a target size (1,000 on 2,445 of 2,514 running programs) and a discount factor"
        ],
        [
          "Scoring",
          "Quadratic in distance from the size-adjusted midpoint; one-sided quotes score at a third when the midpoint is between 10 and 90 cents and not at all outside that range",
          "Not described in the API reference; programs are typed liquidity (2,509 running) or volume (5)"
        ],
        [
          "Paid",
          "Daily at midnight UTC; a day under $1 is not paid",
          "Per program; 187,690 marked paid out since September 2025"
        ],
        [
          "Also paid to makers",
          "Rebates from taker fees on filled maker orders: 15% of fees in sports, 20% in crypto, 25% in most other charging categories; geopolitics is fee-free",
          "Not measured in this study"
        ]
      ],
      "measurementContext": "Polymarket rules from its liquidity-rewards and maker-rebates documentation; counts from both venues' public APIs, 23:57 UTC on 13 September 2026.",
      "sources": [
        {
          "label": "Polymarket CLOB — current liquidity rewards",
          "url": "https://clob.polymarket.com/rewards/markets/current",
          "note": "Every rewarded market with daily rate, maximum spread and minimum size, 23:57 UTC 13 September 2026"
        },
        {
          "label": "Polymarket Gamma API — open events",
          "url": "https://gamma-api.polymarket.com/events/keyset?closed=false",
          "note": "Every open event and market with tags, 24-hour volume and spread, 00:01–00:03 UTC 14 September 2026"
        },
        {
          "label": "Polymarket documentation — Liquidity Rewards",
          "url": "https://docs.polymarket.com/programs/liquidity-rewards",
          "note": "Daily payout at midnight UTC, $1 minimum, scoring formula"
        },
        {
          "label": "Polymarket documentation — Maker Rebates Program",
          "url": "https://docs.polymarket.com/programs/maker-rebates",
          "note": "Share of taker fees returned to makers by category"
        },
        {
          "label": "Kalshi public trade API — incentive programs",
          "url": "https://api.elections.kalshi.com/trade-api/v2/incentive_programs",
          "note": "207,407 programs with market, dates, pool and paid-out status, 23:57 UTC 13 September 2026"
        },
        {
          "label": "Kalshi API reference — Get Incentives",
          "url": "https://docs.kalshi.com/api-reference/incentive-programs/get-incentives",
          "note": "Field definitions, including pools reported in centi-cents"
        },
        {
          "label": "Kalshi public trade API — series",
          "url": "https://api.elections.kalshi.com/trade-api/v2/series",
          "note": "Category for each of 14,018 series"
        },
        {
          "label": "Vultax: Where the money waits on Kalshi and Polymarket",
          "url": "https://vultax.com/research/kalshi-polymarket-open-interest-by-category",
          "note": "Open interest by category, 13 September 2026"
        },
        {
          "label": "Vultax: Esports and NFL order-book depth",
          "url": "https://vultax.com/research/polymarket-sports-and-esports-markets",
          "note": "Depth within 2 cents before start on both venues"
        }
      ],
      "measurement": {
        "kind": "reference",
        "temporalCoverage": "2026-09-13",
        "population": "Polymarket and Kalshi reward programs",
        "methodology": "Published program rules alongside counts from the rewards and incentive-programs endpoints."
      },
      "id": "rules-table",
      "kind": "published-table",
      "description": "Vultax read every liquidity reward on Polymarket and Kalshi on 13 September 2026. Polymarket offered $149,859 a day across 17,866 markets, with finance and weather taking 27% of it on 6% of trading; Kalshi's programs paid out $2.95 million in 30 days, in pools with a median of $20.",
      "articleUrl": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards",
      "sectionUrl": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards#rules",
      "publishedAt": "2026-09-17",
      "modifiedAt": "2026-09-17",
      "version": "a52e08a5ff9fbaec93f99c0103837e86e264ce9fc08601fd708def30f99e9ce2",
      "isLive": false,
      "limitations": "Published research snapshots and calculations; these exports do not contain current quotes or live account data. Observation windows and populations are stated in the source captions and methodology. Missing metadata is unknown, not zero. Readings of both venues' public reward data on 13–14 September 2026. Polymarket posts daily reward amounts and Kalshi posts pools per program, so the two totals measure different things. Nothing here is a recommendation to trade or financial advice.",
      "downloads": {
        "json": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards/data.json?dataset=rules-table",
        "csv": "https://vultax.com/research/polymarket-kalshi-liquidity-rewards/data.csv?dataset=rules-table"
      }
    }
  ]
}