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Polymarket's monthly volume, number of active traders, and number of new markets in October all reached historic highs.
On November 3rd, The Block reported that activity on the decentralized prediction market platform Polymarket significantly rebounded last month, with October's volume, number of active traders, and number of new markets all reaching historical highs. Its competitor Kalshi surpassed Polymarket in trading volume in October, reaching $4.4 billion. Data shows that Polymarket's monthly active trader count in October hit a record high of 477,850, exceeding the previous record of 462,600 set in January. The platform's strong rebound came after a decline in monthly active users throughout the year, with the number of monthly traders dropping to a low of 227,420 in August. Compared to September's 246,610, October's data saw a rise of 93.7%. Polymarket's monthly volume also rebounded to a record $3.02 billion last month, after hovering around or below $1 billion from February to August. The number of new markets opened on the platform in October reached 38,270, nearly three times that of August.