BlockBeats News, November 3rd, according to The Block, the decentralized prediction market platform Polymarket saw a significant uptick in activity last month, with October setting new records for trading volume, active traders, and new markets. 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 monthly active traders in October, surpassing the previous record of 462,600 set in January. The platform witnessed a strong rebound in monthly active users after a year-long decline, with the number of monthly traders hitting a low of 227,420 in August. Compared to September’s 246,610, October saw a 93.7% month-over-month growth.
Polymarket’s monthly trading volume also rebounded last month to a record-breaking $30.2 billion, after hovering around $1 billion or less from February to August. The platform saw 38,270 new markets introduced in October, nearly triple the number from August.
