Polymarket annualized revenue surpasses $1 billion six weeks after its U.S. exchange launch
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- Polymarket disclosed exclusively to CNBC on Friday that its annualized revenue now exceeds $1 billion, six weeks after the company lifted the waitlist for its U.S. exchange.
- Polymarket's U.S. platform daily volume climbed from roughly $50 million in mid-May to over $200 million on June 20, according to Dune Analytics data cited by CNBC.
- Polymarket's international platform saw weekly trading volume reach all-time highs during the FIFA World Cup, recovering from declines in April and May.
- Polymarket launched its U.S. exchange in December after being barred from operating in the country in 2022 for failing to register with regulators.
- The CFTC and Department of Justice dropped their investigations into Polymarket in July without charges, and the U.S. platform now operates as a CFTC-regulated exchange.
- Polymarket has no desktop version available for U.S. users, who are directed on the company website to scan a QR code to download the mobile app to trade.
Why it matters: Polymarket reached $1 billion in annualized revenue and over $200 million in daily U.S. volume within six weeks of opening access, all under CFTC oversight after a prior regulatory ban. The rapid scale-up shows a prediction-market platform that was shut out of the U.S. as recently as 2022 is now capturing mainstream event-driven trading flows, with World Cup betting acting as the accelerant.
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