Polymarket Says Annual Revenue Tops $1.8 Billion, Up From $1 Billion in June

TLDR Polymarket’s US exchange volume rose about 266% from June to October, reaching $14.77 billion. The company says its annualized revenue now tops $1.8 billion, up from $1 billion in June. Combo contracts made up 58.2% of October volume, ahead of sports contracts at 31%. Polymarket is reportedly seeking $1 billion at a $21 billion valuation. It faces a New York lawsuit, a reopened CFTC probe and a recent security incident. Polymarket’s US exchange has grown fast this year, and one product type is doing much of the work. Combo contracts, which bundle several predictions into one trade, made up $8.6 billion of October’s trading volume. That is 58.2% of the monthly total, according to analytics platform TickerTracker.

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