Prediction market Polymarket shot to prominence amid the recent U.S. election, attracting monthly trading volume just shy of $2.5 billion in October with over $1.2 billion more already racked up in November. Some users made millions betting on the election—but ultimately, data suggests that most bettors have actually lost money using the platform to date.

Polymarket has allowed users to bet on most events and cultural questions circulating this year, from who will win the U.S. Presidential election to which actor will be the next James Bond. It’s been around for years, but exploded in popularity over the course of 2024 thanks to election hype.

During election season, Polymarket was increasingly quoted by mainstream media outlets as an alternative source to traditional polling. In fact, Polymarket founder and CEO Shayne Coplan believes that the prediction market was more accurate than the polls—after a

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Author: Ryan Gladwin