Polymarket's year-to-date trading volume reaches $688 million, with weekly active users growing 14 times

Crypto venture capital firm ParaFi Capital posted on the X platform that with the 2024 US election approaching, Polymarket's trading volume has reached US$688 million so far this year, and weekly active users have grown from about 1,400 to over 20,000, an increase of about 14 times. Polymarket's web traffic has also grown exponentially, with daily page views increasing 10 times in the past 12 months, with cumulative page views exceeding 32 million. In the second half of July, daily page views peaked at 1.3 million and daily visitors peaked at 185,000. Of the nearly 70,000 addresses using Polymarket, only 42% of the addresses made their first transaction in election-related markets. The remaining 58% (about 40,000 users) initially traded in non-election markets, including cultural, business, scientific, and macro markets.