Polymarket says its business has almost doubled in five months. The company told CNBC on 10 November 2026 that its annualized revenue is now above $1.8 billion. In June it had put the figure at more than $1 billion, shortly after its US exchange launched in May. An annualized figure takes recent revenue and projects it over a full year, so it is a run rate, not a reported annual result. Polymarket did not publish the period or the method behind it, and the number has not been audited.
Where the money comes from
CNBC reports that the growth is coming mainly from the US exchange, the CFTC-regulated venue that runs separately from Polymarket’s original onchain international platform. Citing the analytics firm TickerTracker, it puts the US exchange’s notional volume at more than $14.5 billion in October, against $4 billion in June. The World Cup in the summer and the start of the NFL season in September drove much of that. Combo contracts, which work like a sportsbook parlay, made up more than 70% of the exchange’s volume on Sunday 8 November, according to the same report.
Notional volume counts each contract at its full payout, so it runs well above the dollars traders actually put in. It is a different measure from the DefiLlama figures we used when we reported that Polymarket US now outtrades the onchain venue, and the two sets of numbers should not be compared directly. What links volume to revenue is the taker fee, which Polymarket US has raised several times this year, as our fee comparison with Kalshi shows.
Key facts
Claim: annualized revenue above $1.8 billion, stated by Polymarket to CNBC on 10 November 2026.
Earlier figure: above $1 billion, disclosed in June 2026.
US exchange volume: over $14.5 billion notional in October, $4 billion in June (TickerTracker via CNBC).
Funding: a new $1 billion round at a $21 billion valuation, per CNBC.
Open issues: a broad CFTC investigation covering advertising and Polymarket’s past settlement on US access, per CNBC.
Source: CNBC.
Why it matters for GambleFi
The numbers show where prediction-market money is going: to a regulated US venue selling sports combos, not to the onchain market that made Polymarket famous. Kalshi is seeing the same pattern, with combos carrying about three quarters of the volume on its record $5.36 billion day on 8 November. That shift also puts both companies closer to state gambling regulators. Polymarket US is already suing Ohio over its sports-gaming licence rules and is one of six exchanges now in court against Missouri, where the state has answered Novig with a federal gambling claim. CNBC also reports that the CFTC is investigating Polymarket’s advertising and whether it broke an earlier settlement meant to keep US residents off the international exchange.
For iGaming tokens, the GambleFi coins tied to onchain casinos and betting sites, the useful comparison is the business model. A betting product earns from fees or house edge on volume, and Polymarket’s run rate shows how large that can get once sports parlays are allowed in. Onchain betting exchanges such as the one on our SX Bet project page compete for the same users without that regulatory cover. This is a news summary, not investment advice. The GambleFi FAQ explains how crypto betting is regulated.