According to the dashboard created by Richard Chen, a general partner at 1Confirmation, Dune Analytics shows that Polymarket’s trading volume in June has exceeded $111 million, a 77% increase compared to May. Monthly active users have reached 29,432, marking a 116% growth and setting a new record since the project’s launch.
The significant growth in Polymarket’s interactive data is directly related to the U.S. presidential election. Currently, the highest betting topic on the Polymarket platform is the 2024 U.S. presidential election, with total bets exceeding $200 million. Other top-ranking prediction topics are also closely related to elections.
Anastasija Plotnikova, CEO and Co-Founder of Fideum, stated:
As of the time of writing, Polymarket users believe there is a 63% chance of Trump winning. However, since Polymarket’s users mainly come from the cryptocurrency community, the predictions from specific groups may not reflect the overall consensus.
Despite Polymarket’s increasing popularity, following a previous case involving presidential bets in Taiwan, Polymarket has been targeted by Taiwanese law enforcement as a gambling website and access for Taiwanese users has been prohibited.
Are Stablecoins Primarily Used for Money Laundering? Blockchain Analysis Firm Reports 99% of Stablecoin Transactions Will Be for Legitimate Purposes in 2024.
Table of Contents Toggle Stablecoin Usage Becomes Increasingly Compliant TRM …