Polymarket’s ‘fee model’ overhaul triples revenue

A revamp of global prediction-market platform Polymarket’s fee model has sent related revenue surging threefold.

Cointelegraph reported on the 2nd (local time), citing data from DefiLlama, that Polymarket’s daily fees jumped from $363,000 on the 30th of last month to more than $1 million the previous day (the 1st). Cointelegraph added, “Revenue—the portion Polymarket actually takes home after paying incentives—also soared to $995,000 the previous day.”

Earlier, on the 30th of last month, Polymarket announced it would expand the application of fees beyond cryptocurrencies and sports to a range of categories including finance, politics, the economy, culture and weather. Cointelegraph said, “The surge (in fees) shows how aggressively Polymarket is moving to monetize trading activity even as it faces investigations by regulators in multiple countries such as the U.S. and Europe.”

Meanwhile, major countries are tightening regulation of prediction-market platforms such as Polymarket. EU countries including Hungary, Portugal and Argentina have, one after another this year, blocked or restricted access to Polymarket. Cointelegraph noted, “In the U.S., at least 11 states have taken legal action against prediction-market platforms such as Kalshi and Polymarket,” adding that “despite such regulation, Kalshi and Polymarket are seeking to expand their businesses, including by considering raising new investment.”