Polymarket hit report highs in quantity, lively merchants, and new market launches in October, pushed by the announcement of the POLY token, plans to re-enter the US market, and potential $15 billion funding spherical.
abstract
- Polymarket has over 477,000 lively merchants and buying and selling quantity exceeded $3 billion, surpassing its peak in January final 12 months.
- This rally is believed to have been fueled by the announcement and airdrop of the POLY token, plans to re-enter the US market, and a possible $15 billion funding spherical.
- The general prediction market has skilled sturdy progress, with Kalsi buying and selling in extra of $4.4 billion and attracting new VC curiosity.
Polymarket hit an all-time excessive in October, with greater than 477,000 lively merchants, the platform’s largest month-to-month consumer base up to now. This represents a 48% enhance from September and exceeds the earlier peak of round 462,000 merchants seen in the course of the US election in January. The Block data.
Buying and selling volumes and new market creation additionally set month-to-month information, with transaction worth exceeding $3 billion, greater than double the earlier month’s whole.
The surge in exercise on main prediction market platforms coincides with a number of necessary developments. In October, Polymarket introduced the POLY token and accompanying airdrop. Across the identical time, the platform revealed plans to re-enter the US market.
Moreover, Polymarket’s potential funding spherical valuing the corporate at $15 billion could have inspired market makers and liquidity suppliers to additional seed the market.
October’s spike coincides with broader progress within the prediction market sector. The operator of the Karshi prediction market additionally reported report exercise, with greater than $4.4 billion traded in October. Based on current stories, the corporate can also be attracting new VC curiosity with a valuation of over $10 billion. bloomberg.
Based on The Block’s Information & Insights publication, “October’s surge seems to be extra like a gradual shift in prediction markets than a one-off, as expectations for the token are more likely to proceed to drive exercise within the quick to medium time period.”
