In just over a week, the blockchain-powered prediction market platform Polymarket has generated an impressive $137.3 million in trading volume, already outpacing the total volume recorded during June and all prior months this year. Last Friday, Polymarket reached its highest daily trading volume in the last three months.
Polymarket’s Traffic and Trading Volume Soar, $137.3M in September’s First 9 Days
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Polymarket Outpaces June Volume in Just 9 Days
The blockchain-powered prediction market has remained a go-to platform for betting on all sorts of events, including the upcoming 2024 U.S. elections. In August, Polymarket hit an impressive $472 million in total trades, and in just the first nine days of September, it has already seen 29.09% of that amount—roughly $137.3 million.
That figure already surpasses June’s total of $111.56 million. Dune Analytics further highlights that the number of active traders this month has surpassed June’s numbers as well. With $137.3 million accumulated in the first nine days of Sept., Sept. 6 alone saw a sizable $34.26 million traded, which accounts for 24.96% of the monthly total in just one day.
Around 75% of Polymarket’s volume this week comes from election wagers. Sept. 6 set a new high, surpassing every day since June 8, the earliest data on Dune’s chart. On top of that, Polymarket’s open interest has hit a record of over $120 million.
Interest in Polymarket is also reflected in Google Trends data over the past 90 and 30 days. The term “Polymarket” reached a score of 97 out of 100 on Aug. 21, hitting a perfect score two days later on Aug. 23. Similarweb stats show that Polymarket.com holds a global rank of 5,097 and ranks 1,666 in the U.S. In the past 30 days, the site attracted 13.8 million visits.
This month, Polymarket’s traffic outpaces its competitor Kalshi.com, which saw 227,000 visits. Polymarket also leads another prediction market, predictit.org, in terms of rank and global traffic. Predictit.org holds a global rank of 10,457, and in the U.S., it ranks 2,041, with 6.9 million visits recorded last month.
What do you think about Polymarket’s records this month? Do you think September’s volume will outpace August’s? Share your thoughts and opinions about this subject in the comments section below.
