Polymarket Sees Record Activity in September

September marked the best-ever month for the Ethereum-based betting market Polymarket as the 2024 United States presidential election on Tuesday, Nov. 5 draws closer.

The decentralized prediction platform saw record highs in monthly categories for trading volume, active traders, new markets, and cumulative trading, according to The Block’s Data Dashboard. The number of active traders experienced the largest month-over-month increase, rising 42% from August to September.

Cumulative volume also saw a significant jump, increasing 35.5% to $2.06 billion from August’s $1.52 billion. Meanwhile, new markets and volume rose 26.8% and 12.83%, respectively.

While the number of new markets grew in September, Polymarket’s largest prediction market remains focused on the winner of the 2024 U.S. presidential election. This market crossed $1 billion in cumulative bets on Sept. 24 and nearly reached $1.2 billion as of Oct. 4.

Users have wagered $265 million on Republican candidate Donald Trump winning the election, while Democratic candidate Vice President Kamala Harris has garnered nearly $252 million in bets, with both candidates having winning odds of 49% at the time of publication.

The Block reached out to Polymarket for comments on its September performance but has yet to receive a response by press time.