According to the Dune Analytics dashboard created by 1Confirmation General Partner Richard Chen, Polymarket’s trading volume in June has exceeded $1.11 billion, a 77% increase compared to May, with monthly active users reaching 29,432, a 116% growth, setting a record high since the project’s launch.
The significant growth in Polymarket’s interactive data is closely related to the U.S. presidential election. Currently, the highest-bet prediction topic on the Polymarket platform is the 2024 U.S. presidential election, with total bets exceeding $200 million. Furthermore, the prediction topics with high betting rankings are almost all election-related.
CEO and Co-founder of Fideum, Anastasija Plotnikova, stated that at the time of writing, Polymarket users believe there is a 63% chance of Trump winning. However, as Polymarket’s user base mainly consists of the cryptocurrency community, the predicted outcomes from specific groups may not reflect the overall opinion.
Despite Polymarket’s increasing popularity, following the Taiwan presidential betting case, the Taiwanese law enforcement has flagged Polymarket as a gambling website, prohibiting Taiwanese users from accessing the domain.
