Polymarket has recorded its best performance in September as the 2024 United States presidential election nears. The Ethereum-based betting market experienced remarkable growth, with record highs in trading volume, active traders, new markets, and cumulative trading data, as noted by The Block's Data Dashboard.
The month of September saw a significant 42% increase in the number of active traders compared to August. This surge reflects a growing interest in predictive betting as the election date approaches.
Polymarket's cumulative trading volume also saw an impressive rise, jumping 35.5% from $1.52 billion in August to $2.06 billion in September. Additionally, new markets and volume increased by 26.8% and 12.83% month-over-month, respectively.
As new markets were introduced in September, the most significant prediction market remained the race for the 2024 U.S. presidential election. This market surpassed $1 billion in cumulative bets by September 24, with the total reaching nearly $1.2 billion by October 4.
Users have placed $265 million in bets on Republican candidate Donald Trump, while Democratic candidate Vice President Kamala Harris has garnered nearly $252 million in bets, with both candidates showing winning odds of 49% at the time of publication.
As of now, The Block has not received a response from Polymarket regarding its September performance.
Disclaimer: The Block is an independent media outlet providing news, research, and data. As of November 2023, Foresight Ventures is a majority investor in The Block, investing in other crypto companies. Bitget serves as an anchor LP for Foresight Ventures. The Block operates independently to deliver objective information about the crypto industry.
