TechFlow News, Nov. 11 — According to Cointelegraph, monthly trading volume on Polymarket’s U.S. platform rose approximately 266%, from $4.04 billion in June to $14.77 billion in October. The data comes from analytics platform TickerTracker, which calculates trading volume based on the full payout value of contracts.

Combination contracts accounted for $8.6 billion in trading volume in October, or 58.2% of the monthly total; sports contracts accounted for $4.57 billion, or 31%. Polymarket told CNBC that its annualized revenue has surpassed $1.8 billion, after exceeding $1 billion in June.

Reports say that U.S. states are questioning whether federally regulated prediction markets can offer sports contracts without state gambling licenses. In September, the New York attorney general sued Polymarket, alleging that its sports-related event contracts violate state gambling laws.