🎯 Polymarket's US trading volume jumps 266% despite regulatory battles
Monthly volume on Polymarket's US exchange rose to $14.77 billion in October from $4.04 billion in June, according to TickerTracker data, which counts trades at full payout value. Combo contracts made up $8.6 billion (58.2%) of October volume, with sports contracts next at $4.57 billion (31%).
Polymarket told CNBC its annualized revenue has topped $1.8 billion, up from more than $1 billion in June, and the company is reportedly pursuing a $1 billion funding round at a $21 billion post-money valuation.
The growth comes as US states challenge whether federally regulated prediction markets can offer sports contracts without state gambling licenses, while the CFTC defends its authority in court.
⭐ Prediction markets are one of crypto's fastest-growing sectors, but the federal-vs-state jurisdiction fight, which could reach the US Supreme Court, will shape how far that growth can go.
#Polymarket #PredictionMarkets #CFTC #Crypto
Monthly volume on Polymarket's US exchange rose to $14.77 billion in October from $4.04 billion in June, according to TickerTracker data, which counts trades at full payout value. Combo contracts made up $8.6 billion (58.2%) of October volume, with sports contracts next at $4.57 billion (31%).
Polymarket told CNBC its annualized revenue has topped $1.8 billion, up from more than $1 billion in June, and the company is reportedly pursuing a $1 billion funding round at a $21 billion post-money valuation.
The growth comes as US states challenge whether federally regulated prediction markets can offer sports contracts without state gambling licenses, while the CFTC defends its authority in court.
⭐ Prediction markets are one of crypto's fastest-growing sectors, but the federal-vs-state jurisdiction fight, which could reach the US Supreme Court, will shape how far that growth can go.
#Polymarket #PredictionMarkets #CFTC #Crypto
