Kalshi’s newly launched perpetual futures crossed $1 billion in trading volume within a week, a milestone the platform’s original event contracts needed 40 months to reach.

Chief executive Tarek Mansour confirmed the milestone this week, saying “the demand is there.” The flagship Bitcoin perpetual, trading under the ticker BTCPERP, went live on Jun. 3 and produced more than $100 million in volume during its first 24 hours. The totals are notional, which means leverage taken by traders is included in the figure.

For context, Kalshi’s event contracts, the prediction market business it built its name on, needed more than three years to reach the same number. A company spokesperson said the waitlist for the product topped 1 million users before launch, making it the fastest-growing offering in the firm’s history.