The number of active traders on Polymarket reached a record high in October, while Kalshi dominated in trading volume.
Jinse Finance reported that the decentralized prediction market platform Polymarket saw a significant rebound in trading activity last month, while its competitor Kalshi reached a monthly trading volume of $4.4 billion in October, surpassing Polymarket. According to data from The Block, the number of monthly active traders on Polymarket climbed to 477,850 in October, setting a new all-time high and exceeding the previous peak of 462,600 recorded in January. This marks the platform's recovery from a year-long decline in monthly active traders—back in August, the number had dropped to a low of 227,420. The number of active traders in October increased by 93.7% compared to September, when Polymarket reported 246,610 monthly active users. From February to August, Polymarket's monthly trading volume consistently remained below $1 billion or hovered around $1 billion, but last month the platform's monthly trading volume rebounded to $3.02 billion, setting a new record. In addition, Polymarket added 38,270 new markets in October, nearly three times the number of new markets added in August.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Citi: Global AI industry revenue is expected to reach $97.5 billion by 2030
Tom Lee maintains his year-end prediction of Bitcoin at $150,000-$200,000 and Ethereum at $7,000.
Donut Labs completes $15 million seed round financing with participation from Makers Fund and others
