Polymarket says annualized revenue tops $1.8 billion

Prediction market platform Polymarket has surpassed $1.8 billion in annualized revenue, the company told CNBC on Tuesday.

That is up from June, when Polymarket disclosed that its annual revenue run rate was north of $1 billion, following the launch of its domestic exchange in May.

Revenue and volume growth

Polymarket’s revenue is being fueled by growth in its U.S. exchange, which operates as a separate trading venue from its decentralized finance international platform. The domestic exchange saw more than $14.5 billion in notional volume in October, up from $4 billion in June, according to data analytics platform TickerTracker.

That increase has been driven by a series of highly traded events, including the FIFA World Cup over the summer and the start of the NFL season in September. Volume has been supported by the growing popularity of Combo event contracts, which work similarly to sportsbooks’ multi-leg parlays, accounted for more than 70% of volume traded on the platform on Sunday.

The revenue growth since June also comes after the company began a fresh $1 billion funding round that values Polymarket at $21 billion.

Regulatory scrutiny

Polymarket still faces near-term headwinds. The Commodity Futures Trading Commission is conducting a broad investigation into the company, with questions surrounding advertising practices and whether the company in the past violated a settlement with the agency to bar U.S. residents from accessing its international exchange.

The company also may face increased scrutiny from a Democratic congress, partially due to the position of President Donald Trump’s son — Donald Trump Jr. — as an advisor to the company.

But Polymarket previously told CNBC it would work with lawmakers as they begin to understand the growing prediction market industry. “We welcome scrutiny,” a spokesperson said.

Why it matters

• Polymarket’s annualized revenue has topped $1.8 billion, up from more than $1 billion in June.
• Its U.S. exchange recorded more than $14.5 billion in notional volume in October, up from $4 billion in June.
• Combo event contracts accounted for more than 70% of platform volume on Sunday.
• The company began a $1 billion funding round valuing it at $21 billion while the CFTC conducts a broad investigation.

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Sources

• cnbc.com: Polymarket says annualized revenue has topped $1.8 billion
• binance.com: Polymarket Annualized Revenue Tops $1.8 Billion | Binance News on Binance Square
• cryptobriefing.com: Polymarket says annualized revenue tops $1.8 billion as US exchange scales

This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.