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Polymarket's October monthly trading volume, active traders count, and new market creations all reached an all-time high.
BlockBeats News, November 3rd, according to The Block report, activity on the decentralized prediction market platform Polymarket saw a significant rebound last month, with October seeing record highs in trading volume, active traders, and new market creation. Its competitor, Kalshi, surpassed Polymarket in October trading volume, reaching $4.4 billion.
The data shows that Polymarket reached a record high of 477,850 active traders in October, surpassing the previous record of 462,600 set in January. After a year-long decline in monthly active users, the platform saw a strong rebound, with the number of traders in a month reaching a low of 227,420 in August. Compared to September's 246,610, the October data represents a 93.7% month-over-month increase.
Polymarket's monthly trading volume also rebounded last month to a record $30.2 billion, after hovering around or below $1 billion from February to August. The platform saw 38,270 new markets created in October, nearly three times the number in August.
Although Polymarket has not yet issued a token, its Chief Marketing Officer, Matthew Modabber, recently confirmed plans to launch the native POLY token and related airdrops. This news may have driven the surge in platform activity, as airdrop announcements usually attract a large number of traders to the platform to meet the airdrop requirements.
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