{
  "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"
      }
    }
  ]
}