Polymarket, the blockchain-powered prediction market, is experiencing a surge in activity, with trading volume hitting an impressive $137.3 million in the first nine days of September. This figure has already surpassed the total volume recorded in June and sets the stage for a potentially record-breaking month. Last Friday, Polymarket marked its highest daily trading volume in three months, cementing its place as a key player in prediction markets.
Surpassing June’s Milestones in Record Time
Known for facilitating wagers on everything from sports to political events like the upcoming 2024 U.S. elections, Polymarket reached a total of $472 million in trades during August. Remarkably, 29% of that figure—$137.3 million—was recorded within the first nine days of September alone. The trading volume not only eclipsed June’s $111.56 million total but also saw a sharp uptick in user participation. Data from Dune Analytics reveals that the number of active traders this month has already outpaced June’s figures.
On September 6, Polymarket recorded $34.26 million in daily trades—nearly a quarter of September’s total so far. Election-related wagers dominated the week, contributing roughly 75% of the platform’s volume, while open interest on the platform has surged past $120 million.
Growing Public Interest Reflects Polymarket’s Momentum
The platform’s growth is mirrored by rising public interest. According to Google Trends, searches for “Polymarket” spiked in late August, with the term hitting a peak score of 100 on August 23. Meanwhile, web analytics firm Similarweb shows that Polymarket.com garnered 13.8 million visits in the past 30 days, placing it ahead of competitors like Kalshi.com and PredictIt.org. While Kalshi.com recorded 227,000 visits, PredictIt.org saw 6.9 million in the same period.
Polymarket’s global rank has now reached 5,097, with a U.S. rank of 1,666, underscoring the platform’s growing dominance in the prediction market landscape. With momentum continuing to build, Polymarket appears poised for further growth as it attracts traders betting on political and cultural events across the globe.
