Polymarket's cumulative trading volume in 2024 will exceed US$9 billion
Odaily reports that according to data compiled by The Block, the prediction market platform Polymarket saw exponential growth across multiple metrics in 2024, including active traders, trading volume, and open interest (OI), reaching record highs earlier this year. The platform has accumulated over $9 billion in total trading volume, with a monthly trading volume of $2.63 billion hitting a new high in November. In December, the number of active traders reached a new peak of 314,500. Open interest (OI) also set a record high of $510 million during the US elections in November. Polymarket's monthly trading volume growth rate for the full year was 66.5%. In January 2024, Polymarket's trading volume was only $54 million, but by November, it had surged to over $2.6 billion, a nearly 48-fold increase within a year.
