In 2024, Polymarket showcases impressive growth, reaching a record trading volume of $9 billion and increasing active traders to 314,500.
Polymarket: A Record Year
In December 2024, Polymarket's trading volume surpassed $9 billion, with November being the best month at $2.63 billion. The number of active traders reached an all-time high of 314,500.
Factors Behind Polymarket's Success
Open interest at Polymarket peaked at $510 million during the U.S. elections before dropping to $120 million in December. The platform uses a public blockchain, providing transaction transparency and security.
Crypto.com's Prediction Market Plans
Crypto.com announced plans to launch a sports prediction service similar to Polymarket's product. The new service will be regulated by the U.S. Commodity Futures Trading Commission.
Leveraging the advantages of decentralized structures has significantly strengthened Polymarket's market position. Meanwhile, similar services, such as the upcoming product from Crypto.com, promise a new wave of sector development.
