Polymarket’s U.S. exchange recorded about $14.77 billion in October contract notional volume, a measure of possible payouts that shows the venue’s scale but does not represent company revenue.
TickerTracker data put the June total at about $4.04 billion. October’s figure was more than triple that benchmark, reflecting growth in the potential payout value of contracts on the U.S. venue over four months.
The notional measure values contracts by their possible payouts, rather than the amount customers paid to enter positions. It describes contract value, not cash wagered or income earned by the exchange.
Polymarket gave CNBC an annualized revenue estimate above $1.8 billion Tuesday. In June, the company had set the same measure above $1 billion. The $1.8 billion figure is a run-rate projection; it does not report revenue earned over a completed 12-month period.
The two figures offer different views of the business. Notional volume describes possible payouts on contracts handled by the U.S. exchange, while the revenue figure describes Polymarket’s reported pace of income. The volume total cannot be treated as revenue or directly compared with the annualized estimate.
The company began operating its U.S. exchange in May, separately from its international decentralized finance platform. CNBC linked part of the trading activity to markets around the summer FIFA World Cup and the NFL season, which began in September.
The update continues EconoTimes’ earlier coverage of Polymarket’s revenue benchmark and U.S. exchange growth.
