Svmuu News Prediction market Polymarket collected approximately $7.1 million in trading fees in the first week of the second quarter, establishing itself as one of the most profitable protocols in DeFi. If this pace is sustained, its annualized trading fee revenue could reach around $365 million, potentially capturing 96.8% of the trading fee share in the on-chain prediction market.
Analysis suggests this growth stems from the pricing reform implemented on March 30th, with daily trading fees consistently hovering around $1 million and trading activity remaining high. According to DeFiLlama data, Polymarket's Total Value Locked (TVL) has reached $432 million, nearing the peak levels seen during the 2024 US election cycle. Regarding major partnerships, Intercontinental Exchange (ICE) completed a $600 million cash investment on March 27th as part of a larger $2 billion commitment to distribute Polymarket's event-driven data to institutional clients. The platform also replaced USDC.e collateral on Polygon with a new 1:1 USDC-backed token, Polymarket USD, to serve as the trading collateral asset.
Despite rapid revenue growth, regulatory risks persist. Several US states, along with countries like Hungary, Portugal, and Argentina, have imposed restrictions or blocks on prediction markets, citing Polymarket's classification as an unlicensed gambling platform. (Cointelegraph)