Prediction market platform Polymarket has surpassed one billion dollars in annualized revenue, a source familiar with the matter told Reuters.
The milestone comes just six weeks after the company launched access to its U.S. exchange. Polymarket stated it is a "product-led company" applying five years of learnings to its U.S. platform.
The broader prediction market industry is experiencing rapid growth. Platforms like Polymarket attract retail traders buying and selling contracts on outcomes ranging from elections and sports to financial events.
In a major endorsement, NYSE parent Intercontinental Exchange agreed to invest two billion dollars in Polymarket last year.