In September 2024, Polymarket observed a significant rise in trading activity driven by heightened interest in the upcoming 2024 US presidential election and ongoing geopolitical events in the Middle East.

Record Trading Volumes in September

The trading volume reached $533.51 million, marking an increase of $61.51 million from August's $472 million, as reported by Dune Analytics. Additionally, the platform saw a notable rise in active users, with a 41% increase to 90,037 in September from 63,616 in August.

Popularity of Prediction Market

The 'Presidential Election Winner 2024' prediction market became particularly popular, generating $89.07 million in trading volume over the last month. As of early October, Donald Trump and Kamala Harris were seen as having an equal 50% chance of winning the election.

New Records and Platform Plans

September also saw a record 89,958 new account registrations, with September 30 being the peak trading day featuring 16,702 participants. The platform set new daily trading records on October 2 and 3. Speculation about a potential token launch contributed to a rebound in open interest, which rose to $136 million after a slight decline at the beginning of the month. Reports suggest that Polymarket is seeking to raise $50 million, and introducing a new token could allow users to validate real-world event outcomes.

Polymarket continues to attract investor and user attention, setting new records amid the approaching US elections. The platform is actively evolving, and anticipated innovations could strengthen its market position.