PANews, October 25 news, according to CoinDesk, one of the biggest breakthrough successes for the team behind Layer 2 blockchain Polygon this year is the decentralized prediction market Polymarket. Polymarket has seen a surge in popularity among mainstream users, with its traders having wagered nearly $2.4 billion on whether Trump or Harris will win the U.S. election in November. However, Polymarket has only brought a small amount of dollar revenue to the Polygon team, and the price of the native POL token has seen almost no increase.
According to Token Terminal data, as of October 23, Polymarket has generated approximately $27,000 in trading fees for Polygon PoS in 2024. Although bettors on Polymarket are very active, the trading volume is still far from reaching the levels of high-intensity applications like decentralized cryptocurrency exchanges (DEX). According to data from the Polygon research team, so far this month, 5.2% of transactions on the Polygon PoS chain have come from Polymarket; Chainlink accounts for 10.38% of PoS transactions, while the transfer of the stablecoin USDT accounts for 4.89%.
