Polymarket Faces Struggles in 2025 After Booming 2024
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Polymarket, a prediction platform, experienced a significant surge in trading volume in October and November 2024, driven by bets on the outcome of the November 5 US election. The platform saw $2.3 billion and $2.6 billion in trading volume in October and November, respectively. However, by January 2025, the trading volume had slumped by $2 billion from its November peak. This decline suggests that the election results were a far more engaging topic for the crypto community than the current topics presented on the platform. The November 2024 trading volume was 37,700% higher than the $6.8 million volume in November 2023, highlighting the importance of election results to crypto investors.
