Polymarket Nears November Trading Volumes After Platform Reinvention

Polymarket has nearly reclaimed its peak trading volumes from November 2024, signaling a robust recovery after overhauling its prediction markets. The platform recorded $961 million in weekly volumes, just shy of the $1 billion milestone achieved during the US election week. A year-long revamp and diversified event coverage have driven this resurgence.

Active wallets now exceed 247,000 weekly users—a 30% increase from November 2024—with smaller bets distributed across more events. Despite locked value dipping to $248 million from its $375 million election-period high, October saw an all-time monthly volume record of $4.1 billion, trailing only Kalshi's $4.4 billion.

The platform's influence continues expanding, with contentious market resolutions now appearing in Google searches. Polymarket remains the dominant player for crypto-native users and mainstream investor interest, cementing its role as a barometer for event-driven speculation.