According to aggregated data from The Block, multiple metrics for the prediction market platform Polymarket have achieved exponential growth in 2024, including active traders, trading volume, and open interest (OI), reaching historical highs earlier this year.
The platform's cumulative trading volume exceeds $9 billion, with a monthly trading volume of $2.63 billion in November reaching a historical high. The number of active traders in December reached a new high of 314,500, while open interest (OI) hit a historical high of $510 million during the U.S. elections in November.
Polymarket's annual monthly trading volume growth rate is 66.5%. In January 2024, Polymarket's trading volume was only $54 million, but by November, this number had risen to over $2.6 billion, an increase of nearly 48 times in one year.