Polymarket USA has 447 active tickers, an all-time record after a period of expansion. The platform remains key for placing predictions on current events and niche markets, achieving high traffic even without the sports component.
Polymarket US reached a record number of tickers traded after expanding conservatively in the past few months. | Source:
The US branch of Polymarket still has relatively low open interest of $1.15M, with a peak of $2.5M in January, based on Dune Analytics data. However, users are testing the water with small-scale trades, creating an ecosystem of local issues.
The growth of Polymarket USA is not tracking the exponential trend in global prediction markets. However, it shows a platform trying to take off the ground, while staying within the lines of US regulations.
To date, the platform has processed 5.25M transactions, and around 55K daily transactions. The popularity of predictions may depend on current issues or the exposure of Polymarket. As Cryptopolitan reported, Polymarket recently partnered with Palantir to track the prediction market more accurately.
Users continue to use privacy tunnels to access the global market even though it is banned for traders based in the USA. Still, the US-based platform is expanding through early testing and by invitations, but has already produced some insights into its limited activity.
Polymarket grows on high activity, low bets
Polymarket has turned into a mass-adoption platform, with a near-record number of wallets and daily activity. New traders not previously engaging in 2024 boosted Polymarket activity, especially driven by political predictions.
Currently, the most common transaction range is between $10-$50, making up over 28% of trading. The inflow of USDC also improves the liquidity of the market.
Polymarket is still showing signs of whale trading and is closely watched for potential insider wallets.
Kalshi avoids the betting platform label
Kalshi, the main competitor of Polymarket, is currently also posting record activity. The prediction market has an advantage with a more established presence in the US market.
Kalshi is also locked in a series of lawsuits to avoid the status of a betting platform. Despite this, individual states have defined Kalshi as a sports betting platform rather than a trading venue.
Both Polymarket and Kalshi are not only fighting for their position on the US market, but also against competitors like DraftKings. The already established betting platforms have already completed their compliance, while the shift from trading to betting may hamper Polymarket and Kalshi.
Prediction markets are already tapping crypto traders seeking new sources of liquidity. For mainstream adoption, however, the platforms may face more regulatory headwinds.
