US users are the biggest political bettors on Polymarket's global platform even after the geoblock, per Allium. The cutoff came with a $1.4M CFTC settlement in 2022, and blocking access just moved demand offshore: five of the top 12 US markets by notional volume are Iran war trades. Regulatory heat keeps building, volume keeps finding a route.
Context
What happened: Polymarket's US exchange trading volume rose about 266% from June to October, driven by sports betting, even as the platform faces state and federal regulatory scrutiny.
Key numbers: Monthly volume rose to $14.77 billion from $4.04 billion. Annualized revenue topped $1.8 billion, up from more than $1 billion in June.
Why it matters: The growth comes as states challenge whether federally regulated prediction markets can offer sports contracts without state gambling licenses. New York's attorney general sued in September, and the CFTC is pursuing action involving 10 states.Source: cointelegraph ↗
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