PANews reported on November 5 that according to The Block, in a new report from Animoca Brands Research, analysts said that Polymarket is likely to have a lasting influence after the US presidential election held today - this election has soared the popularity of this decentralized prediction platform and entered the mainstream. Polymarket's monthly trading volume surged from US$40 million to US$2.5 billion between April and October. At the same time, the value of open contracts increased from US$20 million to US$400 million. In October alone, the platform's website attracted 35 million visits. At the same time, Polymarket has become a standard not only in the encrypted media, but also in the mainstream news media.
Polymarket’s swift entry into the mainstream has some wondering whether it can remain relevant after its biggest buzz, the U.S. presidential election, is over. However, Animoca Brands Research said that about 75% of users with positions trade topics unrelated to the election, “indicating a continued interest in different topics.” In addition, the fact that Polymarket has not yet decided whether it plans to conduct a token issuance event may keep users seeking airdrops engaged.
“In the long run, Polymarket’s growth will depend on its ability to deftly navigate its market positioning, content strategy, and regulatory environment,” the analysts wrote. “As the platform’s visibility grows, so will public scrutiny and competition from traditional and Web3 platforms. To fully leverage its visibility and influence, the Polymarket team must make strategic choices to strengthen its position without losing the public interest it has cultivated.”
