Prediction market platform Polymarket has reached $1.8 billion in annualized revenue, the company told CNBC on Tuesday. The figure marks a significant jump from June, when the platform disclosed an annual revenue run rate exceeding $1 billion following the May launch of its domestic US exchange.
Growth has been concentrated in the US exchange, which operates separately from Polymarket's decentralized finance international platform. According to data analytics platform TickerTracker, the domestic exchange recorded more than $14.5 billion in notional volume in October, up substantially from $4 billion in June. Analysts attributed the surge to a series of high-profile trading events, including the FIFA World Cup over the summer and the start of the NFL season in September.
Combo event contracts, which function similarly to sportsbooks' multi-leg parlays, have emerged as a particular driver of activity. These contracts accounted for more than 70 percent of volume traded on the platform on Sunday, indicating shifting user preferences toward more complex betting structures.
The revenue expansion coincides with Polymarket's fresh $1 billion funding round, which values the company at $21 billion. However, the platform faces potential increased regulatory scrutiny, particularly given that President Donald Trump's son, Donald Trump Jr., serves as an advisor to the company. A Democratic-controlled Congress may intensify oversight of the growing prediction market industry, though Polymarket previously told CNBC it would cooperate with lawmakers. A company spokesperson said the platform welcomed scrutiny as regulators work to understand the sector.
For US investors and traders, Polymarket's expansion means greater access to prediction market products, though regulatory changes could affect how these markets operate going forward.