Polymarket US trading volume rose 266%, driven in part by the FIFA World Cup, which ran from June 11 to July 19. Soccer contracts generated $1.81 billion in trading volume in June, up from $85.4 million in May. Political markets also gained activity, with $108.2 million in volume during the first 10 days of November, compared with $16.6 million throughout September, although they represented only 2.2% of the platform’s November trading. Polymarket is meanwhile pursuing a $1 billion funding round at a reported $21 billion post-money valuation, with 1789 Capital, where Donald Trump Jr. is a partner, expected to contribute about $300 million. The platform nevertheless faces CFTC scrutiny, allegations that it paid influencers to promote fabricated trades, and legal challenges from US states over sports-related prediction contracts.
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