On-Chain Analysis Reveals Profitability of Polymarket Wallets

Only 13.6% of users on the prediction platform Polymarket have turned a profit, with most earning less than $100, according to data from Layerhub.

In absolute terms, this equates to 24,565 wallets. Conversely, the betting activities of 156,010 clients, or 86.4% of the total audience, resulted in losses.

Among the addresses reporting profits, only 2,146 users earned more than $1,000, while the majority made less than $100. The category of $100 to $1,000 included 7,465 wallets.

Approximately 10.8 million transactions have been executed on the platform. From October 6 to 8, daily growth exceeded 300,000, driven by geopolitical tensions and the U.S. presidential elections.

Over 26,000 wallets conducted more than 50 transactions, while around 33,700 executed between 20 and 50. In comparison, nearly 59,000 addresses made between one and five transactions.

At the time of writing, open interest on Polymarket stood at $158.8 million. The volume of transactions approached $2.4 billion, with the number exceeding 11.1 million.

In September, ForkLog reported that Polymarket aimed to raise $50 million and was considering a token issuance.

In May, the platform secured $70 million in investments through two funding rounds. The funds were provided by General Catalyst, DragonFly Capital, ParaFi Capital, Vitalik Buterin, and others.

Previously, Polymarket was integrated into Bloomberg’s terminal.