Polymarket’s U.S. volume triples as scores pile up—and regulators circle the board

Trading on Polymarket’s US exchange rose about 266% between June and October, with monthly volume increasing to $14.77 billion from $4.04 billion, according to TickerTracker, which counts trades at the contracts’ full payout value. The platform told CNBC on Tuesday that its annualized revenue had topped $1.8 billion, up from more than $1 billion in June.

Combo contracts, which bundle multiple predictions into a single wager, accounted for $8.6 billion, or 58.2%, of October’s volume. Sports contracts were the next-largest category at $4.57 billion, or 31%. Soccer contracts generated $1.81 billion in trading volume in June, up from $85.4 million in May, during the FIFA World Cup, which ran from June 11 to July 19.

Political markets also gained traction around the US midterm elections. Election-related contracts generated $108.2 million in trading volume on Polymarket’s US exchange during the first 10 days of November, compared with $16.6 million throughout September. Despite the increase, political markets represented just 2.2% of the platform’s November trading volume.

Polymarket began admitting US traders to the separate exchange in late 2025, three years after a settlement with the Commodity Futures Trading Commission (CFTC) led it to block US trading on its international platform. US access expanded further in May as states challenged whether federally regulated prediction markets can offer sports contracts without state gambling licenses.

The company is also pursuing a $1 billion funding round at a reported $21 billion post-money valuation. Investment firm 1789 Capital, where Donald Trump Jr. is a partner, is reportedly leading the round with an expected contribution of about $300 million.

Regulatory scrutiny continues alongside the growth. The CFTC was reportedly investigating Polymarket earlier this year, while US Senators John Curtis and Adam Schiff separately called on the regulator in June to examine allegations that the company paid social media influencers to promote fabricated trades. Polymarket told Cointelegraph that it was “conducting a comprehensive audit of active promotional content to ensure it complies with our standards, as well as applicable regulatory and legal disclosure requirements.” New York Attorney General Letitia James also sued the company in September over its sports-related event contracts.