Prediction market platform Polymarket disclosed that its annualized revenue has exceeded $1.8 billion, marking significant growth since June when the company reported an annual revenue run rate above $1 billion.
The expansion has been fueled primarily by activity on Polymarket’s U.S. domestic exchange, which operates as a separate trading venue from its decentralized finance international platform. The domestic exchange generated more than $14.5 billion in notional volume in October, compared to $4 billion in June, according to data from analytics platform TickerTracker. Growth has been driven by highly traded events including the FIFA World Cup in summer and the start of the NFL season in September. Combo event contracts, which function similarly to multi-leg parlays offered by sportsbooks, accounted for more than 70% of volume traded on the platform on Sunday.
The revenue growth occurred alongside the company’s launch of a fresh $1 billion funding round that values Polymarket at $21 billion.
Despite the expansion, Polymarket faces regulatory challenges. The Commodity Futures Trading Commission is conducting a broad investigation into the company, examining advertising practices and potential violations of a prior settlement that was intended to prevent U.S. residents from accessing its international exchange. The company may also face heightened scrutiny from Congress, partly due to the involvement of Donald Trump Jr., who serves as an advisor to Polymarket.
Polymarket stated previously that it would cooperate with lawmakers as they develop familiarity with the prediction market industry, with a company spokesperson indicating openness to oversight.
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