According to Odaily, blockchain-based prediction market Polymarket recorded a trading volume of over $62.64 million in May. Joey Krug, a partner at Founders Fund, shared his views on a platform, stating that Polymarket's May trading volume exceeded $62 million. He has always believed that a strong product market adaptability standard for a cryptocurrency-based prediction market is a weekly trading volume of $10 million. If this level can be achieved, the product has the potential to reach $100 million and above in trading volume. He anticipates that the market will heat up further as the election season approaches and congratulated Polymarket and its CEO, Shayne Coplan.
Coplan, in response to Krug's tweet, stated that the next goal is to reach a monthly trading volume of $100 million. In other news, Polymarket completed a total of $70 million in two rounds of financing in May. The most recent round of financing was led by Founders Fund, with participation from Ethereum co-founder Vitalik Buterin, among others. A spokesperson for Polymarket stated that Founders Fund led its $45 million Series B financing. General Catalyst had earlier assisted the company in raising $25 million in Series A financing.