Monthly activity on Polymarket, the largest web3 prediction market platform, outpaced combined volume for the entire year in October in a heated run-up to the U.S. presidential election.
According to Dune Analytics, Polymarket hosted $2.28 billion October worth of trades in October, compared to nearly $1.7 billion throughout the rest of 2024 combined. October’s activity outpaced September’s previous monthly all-time high of $503.9 million by 353%.
Open interest on the platform now sits at almost $315 million, its largest on record. More than $2.87 billion has been wagered on who will win the election in total, with $523.5 million also placed on the Polymarket’s popular vote market.
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