The figure stood at more than $1 billion in June. The growth is linked to Polymarket’s expansion in the U.S.: trading volume on the platform’s U.S. operation rose from $4 billion in June to $14.5 billion in October.
The main drivers were the FIFA World Cup, the NFL season and the popularity of parlay bets, which account for more than 70% of trading volume.
Amid its business growth, Polymarket is raising $1 billion in investment at a company valuation of $21 billion.
At the same time, the platform is under investigation by the CFTC, which is examining the company’s advertising practices and a possible violation of a 2022 agreement to restrict U.S. users’ access to the international platform.
Continue reading this article on source: cnbc.com