Polymarket US trading volume jumps 266% despite regulatory battles

Trading on Polymarket’s US exchange more than tripled between June and October, up about 266% as the company faced state and federal scrutiny.

Monthly volume rose to $14.77 billion from $4.04 billion over that period, according to data from analytics platform TickerTracker, which counts trades at the contracts’ full payout value.

Polymarket told CNBC on Tuesday that its annualized revenue had topped $1.8 billion, up from more than $1 billion in June.

Combo contracts, which bundle multiple predictions into a single wager, accounted for $8.6 billion, or 58.2%, of October’s volume. Sports contracts were the next-largest category at $4.57 billion, or 31%.