Polymarket says annualized revenue tops $1.8 billion as US exchange scales

Polymarket says its annualized revenue has climbed past $1.8 billion, according to figures the company shared with CNBC on Tuesday.

In June, the same metric was north of $1 billion. The jump follows the launch of Polymarket’s domestic US exchange in May. That venue runs separately from the company’s decentralized international platform.

From waitlist to revenue engine

Polymarket opened a waitlist for US users in December 2025. It then removed the waitlist for its iOS app in mid-May 2026, giving domestic users full access.

Roughly six weeks later, the company disclosed that its revenue run rate had crossed $1 billion. Now it says the figure has passed $1.8 billion.

Research firm Sacra estimated Polymarket’s run rate at approximately $375 million in May 2026, just as the US platform was opening up. Measured against that estimate, the latest figure is more than four times higher.

Volume, fees and the World Cup

Daily notional volume on the US exchange rose from about $50 million in mid-May 2026 to more than $200 million by June 20.

The company ran a fee-free model before it began charging fees in early 2026.

Sports contracts have emerged as a major revenue driver, alongside political and other event categories. Heightened activity around the FIFA World Cup gave volumes on both the US exchange and the international platform a significant boost.

Two platforms, two rulebooks

Polymarket now runs two distinct operations. The US exchange is regulated by the Commodity Futures Trading Commission (CFTC). The international platform works on a decentralized finance (DeFi) model, with trades settling through blockchain-based infrastructure rather than a traditional regulated exchange.

Polymarket was founded in 2020 and, in 2022, reached a $1.4 million settlement with the CFTC. Four years later, the company is operating an exchange under that same regulator’s oversight.

In 2025, Intercontinental Exchange, the owner of the New York Stock Exchange, pledged up to $2 billion in investment, a deal that valued Polymarket at roughly $8 billion.

What this means for prediction markets

Polymarket’s revenue trajectory steepened after the US exchange opened its doors, not before.

Fundraising is reportedly continuing, and some projections have suggested annualized revenue could reach $2 billion as the company keeps raising capital. The company’s own latest figure is above $1.8 billion.

The World Cup is a seasonal event, not a permanent fixture. If sports contracts stay a major revenue source, the company will need a steady flow of events to keep traders engaged.

Polymarket only recently moved away from a fee-free model. Operating under the CFTC brings legitimacy and access to US users, along with ongoing oversight and compliance obligations that the decentralized platform does not carry in the same form.

A platform that Sacra pegged at around $375 million in run-rate revenue in May now says it has passed $1.8 billion, with US daily volume that roughly quadrupled in about five weeks.