The Block aggregated data showing that in 2024, the prediction market platform Polymarket achieved exponential growth in multiple indicators, including active traders, trading volume, and open interest (OI), and reached an all-time high earlier this year. The platform's cumulative trading volume exceeded US$9 billion, with monthly trading volume reaching an all-time high of US$2.63 billion in November alone; the number of active traders reached a new high of 314,500 in December; and open interest (OI) hit an all-time high of US$510 million during the US election in November.
Polymarket's monthly trading volume growth rate for the whole year was 66.5%. In January 2024, Polymarket's trading volume was only US$54 million, but by November, this figure had risen to more than US$2.6 billion, an increase of nearly 48 times in one year.