Polymarket Hits ATHs in Volume and Traders Driven by POLY Token Announcement and US Re-Entry Plans

Polymarket reached all-time highs for volume, active traders and new market launches in October, driven by the POLY token announcement, plans to re-enter the US market and a potential $15 billion fundraising round.

Polymarket reached record highs in October, with over 477,000 active traders – the platform’s largest monthly user base to date. This represents a 48% increase from September and surpasses the previous peak of around 462,000 traders during the US elections in January, according to data from Het Blok.

Trading volume and new market creation also set monthly records, with more than $3 billion traded, more than double the total from the previous month.

The increase in activity on the leading prediction market platform coincides with a number of important developments. In October, Polymarket announced the POLY token and an associated airdrop. Around the same time, the platform unveiled plans for its re-entry into the US market.

Additionally, Polymarket’s potential fundraising round, which valued the company at $15 billion, may have prompted market makers and liquidity providers to tap additional markets.

The October peak is consistent with broader growth in the prediction market sector. Kalshi prediction market operator also reported record activity, trading more than $4.4 billion in October. The company is also attracting new VC interest with valuations exceeding $10 billion, according to recent reports from Bloomberg.

According to The Block’s Data & Insights newsletter, “October’s peak looks less like a one-off event and more like a step change for the prediction markets, as token expectations are likely to keep activity high in the short and medium term.”