Polymarket Sees $1.16 Billion Volume Amid Trader Decline

In June, Polymarket's platform recorded a remarkable $1.16 billion in volume, marking a 9.4% increase month-over-month and the highest monthly total since January's $1.26 billion. The number of new markets rose by 21.4%, reaching a record 7,990, reflecting a diversification from the previously politics-centric focus seen in late 2024. However, despite this impressive volume growth, the count of active traders on Polymarket fell by 9.4% compared to the previous month, totaling just over 242,000. This figure is also down 47.6% from January's peak of approximately 462,000 traders. This juxtaposition of increasing volume and new markets against a decline in active traders indicates that the existing traders are betting higher amounts. In June, the average amount traded per account surged to about $4,800, up from around $2,700 in January. This trend suggests a stronger involvement from a smaller group of 'power users.' It raises concerns about Polymarket's ability to attract new users, emphasizing the need for enhanced onboarding strategies and marketing initiatives. This analysis is part of The Block's Data & Insights newsletter, providing insights into impactful trends in the crypto industry. **Disclaimer:** The Block is an independent media source that offers news and data. As of November 2023, Foresight Ventures holds a majority stake in The Block. Foresight Ventures also invests in various crypto-related companies. The Block operates independently to ensure accurate and timely reporting. Financial disclosures are available through The Block.