Polymarket announced its annualized revenue has exceeded $1.8 billion.

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Prediction market platform Polymarket told CNBC on Tuesday that its annualized revenue has topped $1.8 billion. The figure marks a further increase from June this year, when Polymarket disclosed its annualized revenue run rate exceeded $1 billion, following the launch of its U.S.-based trading platform in May. Polymarket’s revenue growth is primarily driven by the expansion of its U.S. trading platform, which operates as an independent venue separate from its international decentralized finance platform. According to data from analytics platform TickerTracker, Polymarket’s U.S. trading platform recorded over $14.5 billion in notional trading volume in October, a sharp rise from $4 billion in June. The growth was fueled by several high-profile events, including this summer’s FIFA World Cup and the NFL’s new season that kicked off in September. Additionally, the growing popularity of Combo event contracts has also supported the volume increase.

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