CNBC: Polymarket's annualized revenue exceeds 1 billion dollars six weeks after its US exchange launch

Foresight News reports that, according to CNBC, Polymarket has exclusively revealed to CNBC that its annualized revenue has far exceeded 1 billion USD. This news comes six weeks after its U.S. exchange removed the waitlist restriction. During the same period, driven by the FIFA World Cup, its international platform’s trading volume has also soared. According to Dune Analytics data, the daily trading volume on Polymarket’s U.S. platform has increased from about 50 million USD in mid-May to over 200 million USD as of June 20. After declines in April and May, the weekly trading volume on the international platform has reached a historic high amid World Cup enthusiasm.

Polymarket’s U.S. exchange launched in December last year. Previously, the company was banned from operating in the U.S. in 2022 for failure to register as required. Subsequently, the Commodity Futures Trading Commission (CFTC) and the Department of Justice withdrew their investigation into the company last July without filing charges. Currently, Polymarket’s U.S. platform operates as a CFTC-regulated exchange. The platform had been in a waitlist status until it opened to mobile users six weeks ago; its desktop version has not yet launched. U.S. users must scan a code on the official website to download the app and trade.