On-chain prediction market Polymarket’s transaction volume exceeded $62 million in May

Dune data shows that the on-chain prediction market Polymarket had a transaction volume of over $62.649 million in May. Founders Fund partner Joey Krug posted on the X platform: "Polymarket's transaction volume exceeded $62 million in May. I have always believed that for cryptocurrency-based prediction markets, the standard for strong product-market adaptability is a transaction volume of $10 million per week. If this level can be reached, its products have the potential to achieve $100 million and above (transaction volume). I think the market will heat up further as we enter the election season. Congratulations to Polymarket and Shayne Coplan." Polymarket CEO Shayne Coplan retweeted his tweet and said: "The next goal is to reach $100 million (transaction volume) per month." Previously in May, Polymarket had completed two rounds of financing totaling $70 million. The latest round of financing was led by Founders Fund and others, and Ethereum co-founder Vitalik Buterin and others participated. A Polymarket spokesperson said that Founders Fund led its $45 million Series B financing. General Catalyst had earlier helped the company raise $25 million in Series A funding.