PANews reported on October 25 that according to CoinDesk, for the team behind Layer2 blockchain Polygon, one of the biggest breakthrough successes this year is the decentralized prediction market Polymarket. Polymarket has soared in popularity among mainstream users, and its traders have invested nearly $2.4 billion in the question of whether Trump or Harris will win the US election in November. But Polymarket has only brought a small amount of US dollar revenue to the Polygon team, and the price of the native POL token has hardly increased.
According to Token Terminal data, as of October 23, Polymarket has only brought in about $27,000 in transaction fees for Polygon PoS in 2024. Part of the reason is that fees are market-based; and recently, it has been very cheap to trade on Polygon PoS, with the average transaction fee on the Polygon PoS chain being $0.007 on October 23. Although Polymarket's bettors are very active, the trading volume is far from the level of high-intensity applications such as decentralized cryptocurrency exchanges (DEX). According to the Polygon research team, 5.2% of transactions on the Polygon PoS chain so far this month came from Polymarket; Chainlink accounted for 10.38% of PoS transactions, and stablecoin USDT transfers accounted for 4.89%.
