**Polymarket Profits Elude Most Users**

Polymarket, the decentralized prediction market platform, has proven profitable for only 12.7% of its users, according to new data from Layerhub. Out of 171,113 crypto wallets, just 21,730 reported profits, with a mere 2,138 making over $1,000. Most profits fell between $0 and $100.

Despite the odds, Polymarket remains active, with 10.8 million trades facilitated and over 300,000 daily trades recently. Interest in crypto betting continues, with open interest standing at $161.1 million as of Oct. 9. Elon Musk even suggested Polymarket could better predict the 2024 U.S. presidential election than traditional polls.