In just over a week, blockchain-based prediction market platform Polymarket has generated an impressive $137.3 million in trading volume, surpassing the total volume recorded in June and all previous months this year. Last Friday, Polymarket reached its highest daily trading volume in the past three months.

Polymarket Surpasses June Volume in Just 9 Days

Blockchain-powered prediction markets remain the go-to platform for betting on all sorts of events, including the upcoming 2024 US election. In August, Polymarket saw an impressive $472 million in total transactions, and in the first nine days of September alone, it saw 29.09% of that amount—about $137.3 million.

That figure surpassed June's total of $111.56 million. Dune Analytics further highlighted that the number of active traders this month also surpassed June's figure. With $137.3 million accumulated in the first nine days of September, September 6 alone saw $34.26 million traded, accounting for 24.96% of the monthly total in just one day.

About 75% of Polymarket’s volume this week came from election betting. September 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 hit a record of more than $120 million.

Interest in Polymarket is also reflected in Google Trends data for the past 90 and 30 days. The term “Polymarket” scored 97 out of 100 on August 21, achieving a perfect score two days later on August 23. Similarweb statistics show Polymarket.com holds a global rank of 5,097 and a US rank of 1,666. In the past 30 days, the site has attracted 13.8 million visits.

This month, Polymarket’s traffic far outpaced rival Kalshi.com, which had 227,000 visits. Polymarket also led another prediction marketplace, predictit.org, in global rankings and traffic. Predictit.org held a global ranking of 10,457 and in the United States it ranked 2,041, with 6.9 million visits recorded last month.

What do you think about Polymarket's record this month? Do you think September's volume will surpass August's? Share your thoughts and opinions on this topic in the comments section below.
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