Since the beginning of July, transactions on Polymarket have surged to $228 million, surpassing any other month in the history of the prediction platform. This data is provided by Dune Analytics.
For comparison, the figure for June was $111.6 million.
The platform registered a record 41,348 users over the month.
The number of active traders in July (30,814) also exceeded the June figure (29,432).
The robust growth in metrics is linked to the commencement of the U.S. presidential election campaign. The total volume of open positions on its winner reached $338.1 million.
In July, amid the excitement surrounding the U.S. presidential race, the cryptocurrency options exchange Deribit launched a new contract on the election outcome.