Polymarket Sees 18% Surge in Active Traders

In July, Polymarket recorded more than 286,000 active traders, marking its highest count since April. This figure represents an 18% increase from June and is the first monthly rise since January, reversing a six-month trend of decline averaging 12% each month. Additionally, the platform saw a significant increase in the number of new markets, with over 11,500 launched in July, up 44% from the previous month. Unlike the active trader count, the creation of new markets has consistently risen since the platform's inception, indicating growth and diversification beyond its initial focus on political markets. Conversely, trading volume dropped by 8.6% month-over-month to approximately $1.06 billion, leading to a decrease in average trade size from $4,800 in June to $3,700 in July. This suggests that while more users are trading on the platform, they are making smaller trades. Recently, Polymarket acquired the derivatives exchange QCEX following the conclusion of a federal investigation. This move aims to significantly broaden access to Polymarket’s platform in the United States. This article is an excerpt from The Block's Data & Insights newsletter, analyzing trends that shape the industry. Please note that The Block operates independently, providing objective and relevant news in the crypto sector.