Polymarket Surpasses $1B in Total Value Processed, Leads Crypto Consumer Apps with $275M July Volume

Jul 26, 2024, 05:49 AM

Polymarket, a prediction market platform, has reached a significant milestone by crossing $1 billion in total value processed, making it the most successful crypto consumer app to date. The platform has seen a surge in activity, particularly during the election season, with over $275 million in volume in July alone. Polymarket leverages Account Abstraction using Safe Smart Accounts for easy onboarding and a frictionless user experience. The application is now responsible for 6% of total transaction fees on Polygon PoS. Additionally, Polymarket's total value locked (TVL) has increased by 46.8% over the past week. The platform has processed $969 million in trading volume and 4.9 million total bets. Polymarket is being recognized for its accuracy in predicting outcomes of major events, outperforming traditional media pundits.