Polymarket, a prediction market platform, reported that its annualized revenue has surpassed $1 billion, as disclosed to CNBC. This announcement comes shortly after the company lifted the waitlist for its U.S. exchange, which operates independently from its international platform.
The FIFA World Cup has notably boosted trading volumes, with daily transactions on the U.S. platform increasing from approximately $50 million in mid-May to over $200 million by June 20, according to Dune Analytics. The international platform has also seen record weekly trading volumes following a decline earlier in the year.
Polymarket's U.S. exchange was launched in December after the company resolved regulatory issues that had previously barred its operation in the country. The Commodity Futures Trading Commission and the Department of Justice concluded their investigations into Polymarket without filing charges.
Currently, the U.S. platform is accessible via a mobile app, while a desktop version remains unavailable. A spokesperson for Polymarket emphasized the company's commitment to creating an intuitive market experience and institutional-grade liquidity, reflecting their extensive experience in building the largest prediction market