September Record for Polymarket
September marked the best month ever for the Ethereum-based betting market, Polymarket, as the 2024 U.S. presidential election approaches on Nov. 5.
The decentralized prediction platform achieved record highs in key metrics:
– Trading Volume
– Active Traders
– New Markets
– Cumulative Trading
Data from The Block's Data Dashboard indicates that active traders increased by 42% from August to September.
Cumulative volume also saw a significant rise of 35.5%, reaching $2.06 billion compared to $1.52 billion in August. New markets and volume grew 26.8% and 12.83%, respectively, month-over-month.
Despite the increase in new markets, Polymarket's largest prediction market remains focused on the winner of the 2024 U.S. presidential election, which surpassed $1 billion in cumulative bets on Sept. 24, currently nearing $1.2 billion as of Oct. 4.
Users have placed $265 million on Republican candidate Donald Trump and $252 million on Democratic candidate Kamala Harris, both holding winning odds of 49% at the time of publication.
The Block attempted to contact Polymarket for comments regarding its September performance but has not received a response by press time.
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