Solana's BET on Drift Hits $20M, Surpasses Polymarket's $12.4M in Volume

Aug 28, 2024, 01:56 PM

The Solana-based prediction market BET, built on Drift Protocol, has surpassed Polymarket in 24-hour trading volume for the first time. BET on Drift recorded a trading volume of $20 million, while Polymarket had $12.4 million and $13 million in separate reports. This marks a significant achievement for BET, which aims to offer a capital-efficient prediction marketplace leveraging Solana's speed. The launch of BET has seen over $1.6 million in open interest and volume, and more than $3.5 million in Day 1 liquidity. The platform has over 1,000 active positions with ultra-tight spreads below $0.01. The rise of BET on Drift reflects a growing trend in decentralized prediction markets, with several new platforms expected to launch in the coming months.