Key Points:

• Polymarket trading volume surpassed $9 billion, and active traders reached 314,500 in December 2024.
• Open interest peaked at $510 million during the November U.S. elections but saw a sharp decline in December.

According to The Block, Polymarket experienced unprecedented growth on all key parameters in 2024.

Read more: Polymarket Founder Was Played Dirty By Competitor Kalshi  

Polymarket Trading Volume Takes a Leap to New Highs

Polymarket trading volume, number of active traders, and open interest surge to new all-time highs and further strengthen its positioning as a leading decentralized prediction market.

In total, Polymarket trading volume surpassed $9 billion in 2024, while November saw $2.63 billion as the best single month. This represents a nearly 48-fold increase from January’s modest $54 million. Active traders on the platform also reached an all-time high of 314,500 in December, keeping its strong performance for the whole year.

Open interest, a critical indicator of market participation, peaked at $510 million during the November U.S. elections before experiencing a sharp 76.5% decline to $120 million in December. Despite this drop, Polymarket maintained a solid monthly growth rate of 66.5% in volume, with a consistent increase in active traders at an average rate of 74% per month.

Built on a public blockchain, Polymarket provides transparency, speed, and security via smart contracts, in contrast to the more traditional markets of prediction that have often struggled with various regulations on finance.

Crypto.com to Launch Sports Prediction Service Regulated by CFTC

While the market has cooled a bit since the close of the U.S. election, Polymarket’s unique decentralized structure helps bring in new participants. Its ability to offer uncensored, clear markets continues to be one of the main advantages of this growing platform.

Meanwhile, Crypto.com unveiled plans for a sports prediction market similar to Polymarket’s product, including bets on events such as the Super Bowl. The new service will be regulated by the U.S. Commodity Futures Trading Commission and be available through the Crypto.com app and website.