Polymarket almost recovered its trading volumes from the peak season of November 2024. The platform is still the leader for crypto native usage and mainstream interest from investors.
Polymarket reached $961M in trading volumes for the past week, almost reaching the performance of the US election week, with a little over $1B in volumes. Polymarket spent a year reinventing its platform and finding new traffic after the most active prediction pair in its history resolved on November 6, 2024.
Polymarket recovered most of its volumes from November 2024. This time, the platform operates with more active wallets and smaller bets. | Source: Token TerminalCurrently, Polymarket locks in around $248M, down from a peak of $375M during the high-value betting period of the US Presidential elections.
The recent growth in value was more gradual, and spred across a wider number of events. This time, the platform carried more than 247K weekly active users, or around 72K daily active users, up around 30% compared to November 2024.
For the month of October, Polymarket also achieved an all-time high of $4.1B in total volumes. The platform was second to Kalshi, with $4.4B in monthly volumes. After expanding its popularity, Polymarket’s results were also included in Google searches on contentious issues.
Polymarket grew its influence with current events
Polymarket had a brief period where it relied on sports events to boost its traffic. But the app truly found its pace with the expansion of current event predictions. A year rich in political events, elections, and global uncertainty produced unique prediction opportunities.
For Polymarket, pairs going viral on social media was also a major source of support. Additional integrations into wallets meant access to Polymarket was simplified. This allowed a cohort of new wallets to enter the market. Non-election wallets increased from around 6,000 to over 27,000 in October. Total participating wallets reached 84,000 at the end of October.
The platform also saw smaller, more diverse bets and retail-sized earnings. Users also remained active as the platform confirmed the eventual creation of a POLY token and an airdrop based on account activity. Polymarket is also rewarding certain positions, aiming to boost its key prediction markets.
The POLY token already grew its mindshare by 226% in the past month, becoming one of the key events for the first months of 2026.
Kalshi trading volumes reached a record in October
Kalshi’s trading volumes are not tied to on-chain activity, and instead tap Web2 users with a greater success.
Kalshi reached a record of $1.26B in trading volumes for the week ended October 27. Before that, the market set new records each week, getting a boost from its representation on Robinhood.
Kalshi has no reliable data on mindshare, but the app onboarded more influencers on X. The platform continues to focus on current events, promoting its most active prediction pairs through its social media. Kalshi remains the leader for sports predictions, but Polymarket still leads in real-life event pairs.
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Source: https://www.cryptopolitan.com/polymarket-almost-returned-to-its-peak-volumes-from-a-year-ago/
