Polymarket’s US exchange, the CFTC-regulated venue run by QCX LLC, now handles more trading than the onchain international platform Polymarket started with. DefiLlama’s Polymarket US data show $2.48 billion in volume in September 2026, against $2.13 billion for Polymarket International on Polygon. The gap widened in October: from 1 to 21 October, the US exchange recorded $2.20 billion and the international venue $1.59 billion. In March the international venue had traded $4.79 billion and the US exchange $0.30 billion.
Two different data sources
The figures are not measured the same way. DefiLlama takes Polymarket US volume from the exchange’s daily time-and-sales files, while the international figures come from Polygon. DefiLlama also does not report fees collected by Polymarket US. It estimates them by applying the published fee formula to each trade, before the rebates the exchange pays. On that basis it puts US fees at $62.3 million in September and $60.6 million from 1 to 21 October. For the international venue, it records $31.3 million in September and $22.4 million from 1 to 21 October. International volume fell in five of the six months from March to September, while US volume grew in every month except August.
Higher fees on the US exchange
Polymarket US has raised its taker fee several times this year. Its current fee schedule charges takers 0.0695 × contracts × price × (1 − price), which is $1.74 on 100 contracts at $0.50. The exchange told the CFTC in a 21 September filing that the coefficient rose from 0.06 to 0.0695 on 17 September. A 29 September filing added a steeper curve for combo trades from 25 September, and the schedule now sets the combo coefficient at 0.06. A revised schedule in force since 19 October adds a higher coefficient of 0.10 for table tennis markets and maker rebates of 0.0035 to 0.0104 for market makers with at least $10 million in monthly maker volume, while takers can earn back up to 30% of their fees through volume tiers. According to DefiLlama’s methodology notes, the exchange charged a flat 1% from 9 January, then used the formula with coefficients of 0.05 from 4 April and 0.06 from 1 July. The US exchange is also the one now suing Ohio over its sports-gaming licence rules, as set out in our report on that case.
Key facts
September 2026 volume (DefiLlama): Polymarket US $2.48B; Polymarket International $2.13B.
1–21 October 2026: US $2.20B; International $1.59B.
March 2026: US $0.30B; International $4.79B.
Fees: US $62.3M in September (DefiLlama estimate, before rebates); International $31.3M.
US taker fee: 0.0695 × C × p × (1 − p) since 17 Sep 2026; 0.10 on table tennis and tiered maker rebates since 19 Oct 2026.
Why it matters for GambleFi
Polymarket built its business as an onchain prediction market, but by these figures its growth now runs through a regulated US exchange, while the Polygon venue is trading less. Fully onchain betting exchanges, the corner of the market closest to iGaming tokens (also called GambleFi tokens), remain far smaller: DefiLlama put 30-day fees at SX Bet V3 at about $82,000 on 22 October. See the SX Bet project page and the SX Bet risks page for the exchange we track. These are third-party data estimates, not company figures, and this is not betting advice.