Only 12.7% of crypto wallet addresses on Polymarket are profitable

Data from on-chain analysis tool Layerhub shows that 149,383 (87.3%) of the 171,113 crypto wallet addresses on Polymarket are not profitable. There are 21,730 wallets that have been confirmed to be profitable, accounting for 12.7% of all participating crypto wallets. Among the wallets that reported profits, only 2,138 users made more than $1,000 in profits, and most of the profits were between $0-100. Polymarkets has facilitated approximately 10.8 million predicted transactions. Between October 6 and 8, the company recorded more than 300,000 transactions per day, which it attributed to current world events such as the ongoing conflict between countries and the upcoming US presidential election. (Cointelegraph)