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Polymarket US volume triples to $14.8bn as states press gambling claims

Polymarket's US exchange saw monthly trading volume rise about 266% between June and October, Cointelegraph reports, even as the company faces state lawsuits and federal scrutiny.

InvestIn.News NewsDesk · 1 min read
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Picture from Cointelegraph for: Polymarket US volume triples to $14.8bn as states press gambling claims
Image: Cointelegraph
Original reporting: Nate Kostar, Cointelegraph

Key points

  • Monthly volume on the US exchange rose to $14.8bn in October from $4.04bn in June, per TickerTracker.
  • Combo contracts made up $8.6bn, or 58.2%, of October volume, with sports contracts at $4.57bn, or 31%.
  • New York Attorney General Letitia James sued Polymarket in September over alleged breaches of state gambling law.

Polymarket US trading volume more than tripled between June and October, rising about 266% as the company faced scrutiny from states and federal regulators, Cointelegraph reports. Monthly volume climbed to $14.8bn from $4.04bn, according to TickerTracker, which counts trades at the contracts' full payout value.

Polymarket told CNBC on 10 November that annualised revenue had passed $1.8bn, up from more than $1bn in June. Combo contracts, which bundle several predictions into one wager, accounted for $8.6bn, or 58.2%, of October volume. Sports contracts came next at $4.57bn, or 31%.

Legal pressure

Growth followed the FIFA World Cup, held from 11 June to 19 July, with soccer contracts generating $1.81bn in June against $85.4m in May. Election contracts drew $108m in the first 10 days of November, against $16.6m across September, though politics was just 2.2% of November volume. Polymarket opened its separate US exchange to traders in late 2025, three years after a CFTC settlement led it to block US users from its international platform.

The company is also seeking $1bn at a reported $21bn post-money valuation, with 1789 Capital, where Donald Trump Jr. is a partner, reportedly leading at about $300m. New York Attorney General Letitia James sued Polymarket in September, alleging its sports contracts broke state gambling law. Senators John Curtis and Adam Schiff asked the CFTC in June to examine claims that the company paid influencers to promote fabricated trades; Polymarket said it was auditing promotional content.

What to watch: New Jersey officials have petitioned the US Supreme Court to hear their case against Kalshi, seeking clarity on which authorities regulate sports prediction markets.

Read the full story on Cointelegraph

Live updates on NewsFeeds:RegulationDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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