Prediction market platform Polymarket tops $1 billion in annualized revenue: Report
Trading volumes surged as the FIFA World Cup boosted activity and Polymarket’s U.S. exchange opened to users, the company said.
- Polymarket announced to CNBC that annualized revenue exceeded $1 billion, a milestone reached shortly after the company expanded access to its U.S. Exchange.
- Revenue growth follows the Exchange rollout six weeks ago, which lifted waitlist restrictions on the mobile app and allowed customers to trade on the U.S. platform.
- Data from Dune Analytics shows daily trading volume surged from around $50 million in mid-May to more than $200 million on June 20, fueling rapid industry growth.
- The Department of Justice and the Commodity Futures Trading Commission dropped investigations into Polymarket in July, allowing the Exchange to operate as a CFTC-regulated entity.
- Prediction markets are pushing to attract institutional investors and hedge funds beyond retail traders, with popular platforms including bets on outcomes like the FIFA World Cup.
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Polymarket tops $1 billion in annualized revenue as prediction market boom accelerates - Tech Startups
Just six weeks after opening its U.S. exchange, Polymarket has reached a milestone few crypto startups have. The prediction market platform has surpassed $1 billion in annualized revenue, according to an exclusive report from CNBC. The milestone marks another sign […] The post Polymarket tops $1 billion in annualized revenue as prediction market boom accelerates first appeared on Tech Startups.
Polymarket's U.S. Exchange Drives Billion-Dollar Revenue Run Rate
Prediction market platform Polymarket has crossed an annualized revenue run rate of more than $1 billion, the company told CNBC, just six weeks after removing the waitlist for its U.S. exchange. According to the report, trading activity has accelerated sharply as the FIFA World Cup fueled increased interest in prediction markets. 📊Data from Dune Analytics showed daily trading volume on Polymarket's U.S. platform climbed from about $50 million i…
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