In just over a week, Polymarket, the blockchain-powered prediction market platform, has achieved an impressive trading volume of $137.3 million. This figure has already surpassed the total volume recorded in June and all previous months of this year, highlighting a significant increase in platform activity.
Polymarket Surpasses June Volume in Just 9 Days
The prediction market platform continues to be a key player for betting on various events, including the 2024 U.S. elections.
In August, Polymarket reached a substantial $472 million in total transactions. Remarkably, in the first nine days of September alone, the platform has already achieved approximately 29.09% of that amount, translating to about $137.3 million.
This figure exceeds June’s total of $111.56 million.
Dune Analytics further indicates that the number of active traders this month has also surpassed June’s figures. On September 6, alone, the platform saw a notable $34.26 million in trades, which accounts for 24.96% of the total monthly volume in just one day.
Election Bets Drive Most of the Activity
Approximately 75% of Polymarket’s trading volume this week stems from election-related bets. September 6 set a new record for the highest daily volume since June 8, the earliest date on Dune’s chart.
Additionally, Polymarket’s open interest has reached a record high of over $120 million.
Interest in Polymarket is also evident from Google Trends data over the past 90 and 30 days. The term “Polymarket” peaked with a score of 97 out of 100 on August 21, and achieved a perfect score two days later, on August 23.
According to Similarweb, Polymarket.com holds a global ranking of 5,097 and ranks 1,666 in the U.S. Over the past 30 days, the site attracted 13.8 million visits.
This month, Polymarket’s traffic has exceeded that of its competitor Kalshi.com, which saw 227,000 visits.
Polymarket also leads over another prediction market, PredictIt.org, in terms of global ranking and traffic. PredictIt.org holds a global ranking of 10,457 and ranks 2,041 in the U.S., with 6.9 million visits recorded last month.