Polymarket Handles $3B Volume on Polygon, 338,000 Unique Traders

Core Insights - Polymarket, a leading prediction market in the crypto space, achieved a trading volume of $3 billion in October with 338,000 unique traders [1] - The platform operates on the Polygon network and primarily utilizes Circle's stablecoin USDC for transactions [1] Industry Overview - The prediction market sector is gaining mainstream traction, with Polymarket leading in trading activity and user engagement [2] - Kalshi, another prediction market, reported an even higher trading volume of $4.4 billion, indicating growing competition in the industry [2] - The demand for prediction markets is increasing due to clearer regulations and significant partnerships, such as Polymarket's collaboration with UFC and indexing by Yahoo Finance and Google [3] Company Developments - Polygon is experiencing increased adoption and integrations, highlighted by Polymarket's success, which is contributing to the growth of its DeFi ecosystem [4] - Revolut, Europe's largest fintech, has selected Polygon as the official network for stablecoin payments, further enhancing Polygon's utility for crypto trading and staking [4] - The native token of Polygon, POL, has seen a positive market reaction following the news of the partnership with Revolut, trading at $0.1522, reflecting an increase of 1.63% in the last 24 hours and 8.7% from a recent low [5]