Trading on Polymarket’s US exchange more than tripled between June and October, up about 266% as the company faced state and federal scrutiny.

Monthly volume rose to $14.77 billion from $4.04 billion over that period, according to data from analytics platform TickerTracker, which counts trades at the contracts’ full payout value.

Polymarket told CNBC on Tuesday that its annualized revenue had topped $1.8 billion, up from more than $1 billion in June.

Combo contracts, which bundle multiple predictions into a single wager, accounted for $8.6 billion, or 58.2%, of October’s volume. Sports contracts were the next-largest category at $4.57 billion, or 31%.

The platform’s US arm has grown rapidly since the company widened access in May, as states challenge whether federally regulated prediction markets can offer sports contracts without state gambling licenses. Polymarket began admitting US traders to the separate exchange in late 2025, three years after a settlement with the Commodity Futures Trading Commission (CFTC) led it to block US trading on its international platform.

Polymarket US trading volume by category in October 2026. Source: TickerTracker

The growth also follows a surge in sports-related trading during the FIFA World Cup, which ran from June 11 to July 19. Soccer contracts generated $1.81 billion in trading volume in June, up from $85.4 million in May, according to TickerTracker.

Political markets also saw increased activity surrounding the US midterm elections. Election-related contracts generated $108.2 million in trading volume on Polymarket’s US exchange during the first 10 days of November, compared with $16.6 million throughout September. Despite the increase, political markets accounted for just 2.2% of the platform’s November trading volume.

Meanwhile, Polymarket is pursuing a $1 billion funding round at a reported $21 billion post-money valuation. Investment firm 1789 Capital, where Donald Trump Jr. is a partner, is reportedly leading the round with an expected contribution of about $300 million.

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Polymarket faces mounting legal challenges

Despite the figures, Polymarket continues to face regulatory scrutiny on several fronts. The CFTC was reportedly investigating Polymarket earlier this year, while US Senators John Curtis and Adam Schiff separately called on the regulator in June to examine allegations that the company paid social media influencers to promote fabricated trades.

Responding to the allegations, the company told Cointelegraph that it was “conducting a comprehensive audit of active promotional content to ensure it complies with our standards, as well as applicable regulatory and legal disclosure requirements.”

Polymarket is also among several prediction market operators facing legal challenges from US states. New York Attorney General Letitia James sued the company in September, alleging that its sports-related event contracts violated state gambling laws. The lawsuit is part of a broader wave of state actions against prediction market platforms, including Kalshi, over whether their contracts fall under federal commodities regulation or state gambling laws.

The CFTC has defended its authority to regulate prediction markets, pursuing legal action involving 10 states over efforts to enforce state gambling laws against the platforms.

The jurisdictional dispute could ultimately reach the US Supreme Court. In September, New Jersey officials petitioned the court to hear their case against Kalshi, seeking a ruling that could clarify which authorities have jurisdiction over sports-related prediction markets.

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