Polymarket told CNBC on Tuesday that its annualized revenue pace had passed $1.8 billion as October trading on its U.S. platform neared $15 billion, bringing the prediction-market company’s growth into focus alongside a reported federal investigation.
TickerTracker data show about $14.77 billion in October trading on Polymarket US, compared with about $4.04 billion in June. The totals use contract face value: each contract is counted at its full possible payout, rather than the amount a buyer paid, under TickerTracker’s methodology.
The company had disclosed a revenue pace above $1 billion in June, after launching its domestic exchange in May, CNBC reported. An annualized figure projects a current pace across 12 months; it does not represent revenue already earned over a full year. Polymarket runs separate U.S. and international platforms, with the latter built on blockchain technology.
CNBC attributed some of the trading increase to the summer’s FIFA World Cup and the NFL season’s September kickoff. It also reported that combination contracts, which bundle outcomes in a format similar to sportsbook parlays, made up more than 70% of the platform’s volume on Sunday.
CNBC reported that the Commodity Futures Trading Commission (CFTC) is conducting a broad investigation into Polymarket, including questions about its advertising and whether it complied with an earlier settlement restricting U.S. residents’ access to its international exchange. The CFTC imposed a $1.4 million penalty on Polymarket in 2022 over unregistered event-contract trading.
In an earlier statement to CNBC, Polymarket said it would work with lawmakers studying prediction markets. In a separate earlier comment, a company spokesperson said, “We welcome scrutiny.” CNBC disclosed a commercial relationship with Polymarket rival Kalshi that includes customer acquisition and a minority investment.
