- Polymarket experienced a boom in popularity during the pre-election period
- After, the popularity has subsided but is regaining its activity
- Politics and sports events are leading the platform sectors
Polymarket has experienced several waves of popularity, the most recent of which was odds on US election events. After the election, the platform’s popularity waned, but political events retained popularity and shifted focus towards sports.
More About Polymarket’s Popularity Trend
Polymarket is the most popular platform for making odds in various areas, and has also interestingly proved itself by giving more accurate predictions than election polls during the pre-election period – it shows the dynamics.
Looking at the more general numbers, Polymarket still sees positions worth over $1,000,000,000, but the biggest whale bets have declined the most since the November election. However, the platform remains a very liquid center with relatively few low-value odds, and much of the growth comes from forecast positions in the $1,000 to $10,000 range.
Polymarket lost about 50% of its volumes immediately after the election but is showing a recovery and a shift in focus. In particular, political betting continues to maintain its greatest popularity and even growth, and the popularity of sporting events is also growing strongly.
The crypto segment also occupies a significant volume, although its growth dynamics are not as rapid compared to politics and sports.
Conclusions
Polymarket does experience spikes, and similar spikes were there when NFT and a few others boomed, making some worry about the future of the platform. This seems to prove that lower peak activity is not a sign of collapse, and the platform has already recovered several times since.
Let’s hope that this valuable, and sometimes quite accurate, tool reflects public sentiment and trends. Be aware and stay tuned.
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