Polymarket's annualized revenue topped $1 billion within six weeks of its U.S. launch

Access opened up in mid-May when Polymarket removed the waitlist for mobile app users, ending a restricted period that had been in place since the U.S. exchange's December debut. No desktop version has been made available; the company's website routes prospective U.S. traders to a QR code for downloading the app. The U.S. exchange operates separately from Polymarket's international, decentralized finance platform.

On the U.S. side, daily volume grew more than fourfold between mid-May and June 20, when it exceeded $200 million. The FIFA World Cup has simultaneously pushed the international platform's weekly figures to record levels, reversing a slide that had persisted through April and May.

"We spent the last five years building the world's largest prediction market, and understanding how people engage with markets at scale," a company spokesperson said in a statement to CNBC. "We are applying those learnings to our U.S. platform, where our focus is on intuitive market experiences, institutional-grade liquidity and a consumer experience that sets the standard for the category."

A 2022 regulatory action had prohibited Polymarket from the U.S. market entirely, stemming from the company's failure to properly register with authorities. Those legal clouds lifted last July when both the Commodity Futures Trading Commission and the Department of Justice closed their probes without filing charges, clearing the way for the current CFTC-regulated U.S. exchange.

The prediction markets sector has drawn increasing attention from regulators, competitors, and investors. The American Gaming Association has estimated that prediction market platforms have cost state governments more than $1 billion in foregone gaming tax revenue, with most of that figure accumulating since the start of 2025. The association's president and CEO, Bill Miller, has described the platforms as "backdoor sports betting" that sidestep taxes paid by licensed gambling operators.

The sector's growth has also attracted new entrants. Meta $META CEO Mark Zuckerberg has directed a small team to build a prediction markets app known internally as Arena, while FanDuel, DraftKings, and Trump Media & Technology Group have also moved into the space. Combined trading volume across Kalshi and Polymarket hit $50 billion last year and has since surpassed $130 billion in 2026.