Prediction market platform Polymarket has surpassed $1 billion in annualized revenue, according to a source familiar with the matter. This milestone comes as the company rolls out access to its U.S. exchange, allowing customers to trade on various events.
Prediction Markets on the Rise
Prediction markets have evolved from a niche corner of crypto and academic finance into a fast-growing trading segment. Retail traders are showing keen interest in buying and selling contracts tied to the outcome of future events, such as the winner of the FIFA World Cup or whether the Strait of Hormuz will be closed.
Polymarket’s revenue milestone is a significant endorsement of the prediction market industry. Last year, NYSE parent Intercontinental Exchange agreed to invest $2 billion in Polymarket, marking one of the biggest endorsements yet of the prediction market industry by a traditional financial heavyweight.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
