Election Fever Pushes Polymarket to $533M in September, Setting New Records

Polymarket hit new milestones in September, with trading volume climbing to $533.51 million, exceeding August’s $472 million. The blockchain-based predictions platform also saw a rise in active users, reaching 90,037, up 26,421 from the prior month.

Polymarket Booms Ahead of U.S. Election: $533M in Volume, 90K Users in September

With 33 days until the 2024 U.S. election on Nov. 5, demand for Polymarket continues to grow. Current data indicates the largest market is “Presidential Election Winner 2024,” with $89,067,490 in 30-day volume. As of 10:39 a.m. EDT on Thursday, the odds for candidates Donald Trump and Kamala Harris are evenly split at 50%.

Polymarket’s September volume, at $533.51 million, outpaced August by $61.51 million. The highest daily volume occurred on Sept. 11, but Oct. 2 and 3 have already set new daily records. Sept. 30 saw the platform’s peak daily user count with 16,702 participants.

Despite a slight dip in open interest during September, it rebounded to a peak of $136 million. Polymarket monthly new accounts also reached an all-time high in September with 89,958 new accounts. At the end of the month, election betting took 84% of Polymarket’s market share of predictions, with election bettors accounting for 64% of its users.

Other popular bets include “Israeli forces enters Lebanon in September?,” “Eigenlayer market cap (FDV) one day after launch?,” and “Fed Interest Rates: November 2024.” As Polymarket gains traction leading up to the 2024 U.S. election, its record-breaking volumes and expanding user base show rising interest in predictive markets. Given that election-related bets dominate the platform, it remains to be seen if volumes will decline post-election, as the outcome may affect user engagement.

What do you think about Polymarket’s September volume? Share your thoughts and opinions about this subject in the comments section below.

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