Polymarket hits $1.16 billion monthly volume but active trader count continues to fall

Polymarket saw $1.16 billion worth of volume on the platform for the month of June. This represents a 9.4% month-over-month increase and is also the platform’s highest monthly volume total since January’s $1.26 billion.

Meanwhile, the number of new markets on Polymarket increased 21.4%, marking a record high of around 7,990 in June. This showcases Polymarket’s increasing diversification of its markets in recent months, as opposed to the more concentrated politics-focused landscape seen towards the end of 2024.

On the other hand, the total number of active traders on Polymarket declined by 9.4% month-over-month in June, with just over 242,000 traders. June’s figure is also 47.6% lower than its all-time high from January’s approximate 462,000 trader count.

The discrepancy between an upward trend in volume and new markets, and a downward trend in active traders in recent months, suggests that existing traders are wagering far larger sums per head than before. This is backed by the average notional traded per account having risen to roughly $4,800 in June from about $2,700 in January, indicating deeper engagement from a smaller "power user" cohort. It might also imply that Polymarket’s top-of-funnel user growth is stalling despite record market breadth, underscoring the need to address larger onboarding or marketing expansions.

This is an excerpt from The Block's Data & Insights newsletter. Dig into the numbers making up the industry's most thought-provoking trends.