Polymarket has only brought about $27,000 in transaction fees to Polygon PoS this year

For the team behind Layer2 blockchain Polygon, one of the biggest breakout successes this year has been the decentralized prediction market Polymarket. Polymarket has surged in popularity among mainstream users, with traders betting nearly $2.4 billion on whether Trump or Harris will win the US election in November. But Polymarket has only generated a small amount of dollar revenue for the Polygon team, while the price of the native POL token has barely risen. According to Token Terminal data, as of October 23, Polymarket has only generated about $27,000 in transaction fees for Polygon PoS in 2024. Although Polymarket's bettors are very active, the trading volume is far from the level of high-intensity applications such as decentralized cryptocurrency exchanges (DEX). (Coindesk)