Polymarket's trading volume has reached $688 million so far this year, with weekly active users increasing by 14 times

Crypto venture capital firm ParaFi Capital posted on the X platform that, with the approach of the 2024 U.S. election, Polymarket's trading volume so far this year has reached $688 million, and weekly active users have grown from around 1,400 to over 20,000, an increase of about 14 times. Polymarket's web traffic has also grown exponentially; in the past 12 months, daily page views have increased tenfold to a total of more than 32 million. In the second half of July alone, daily page views peaked at 1.3 million and daily visitors peaked at 185 thousand. Of nearly seventy thousand addresses using Polymarket only forty-two percent made their first trade in election-related markets while remaining fifty-eight percent (approximately forty-thousand users) initially traded in non-election markets including culture business science and macro markets.