TLDR
- Polymarket’s US exchange volume rose about 266% from June to October, reaching $14.77 billion.
- The company says its annualized revenue now tops $1.8 billion, up from $1 billion in June.
- Combo contracts made up 58.2% of October volume, ahead of sports contracts at 31%.
- Polymarket is reportedly seeking $1 billion at a $21 billion valuation.
- It faces a New York lawsuit, a reopened CFTC probe and a recent security incident.
Polymarket’s US exchange has grown fast this year, and one product type is doing much of the work. Combo contracts, which bundle several predictions into one trade, made up $8.6 billion of October’s trading volume. That is 58.2% of the monthly total, according to analytics platform TickerTracker.
JUST IN: Polymarket's annual recurring revenue (ARR) has surpassed $1.8 BILLION, according to CNBC. pic.twitter.com/IKZ3BAK4XW
— The Moon Show (@TheMoonShow) November 10, 2026
Monthly volume on the exchange rose to $14.77 billion in October from $4.04 billion in June. TickerTracker counts trades at the full payout value of each contract. The increase works out to about 266%.
Polymarket told CNBC on Tuesday that its annualized revenue has passed $1.8 billion. The company reported a run rate above $1 billion in June.
How Combo Contracts Work
Combo contracts work much like parlays in sports betting. A trader combines several predictions into a single contract instead of trading on one result. CNBC reported that Combos made up more than 70% of platform volume on Sunday.
Sports contracts were the next-largest group in October, with $4.57 billion in volume. That was 31% of the total. Together, the two categories made up most of the month’s activity.
Sports events have helped drive the rise. The FIFA World Cup ran from June 11 to July 19. Soccer contracts generated $1.81 billion in June, up from $85.4 million in May. The start of the NFL season in September added more activity.
Election markets have also picked up ahead of the US midterms. Election contracts generated $108.2 million in the first 10 days of November. September’s full-month total was $16.6 million. Even so, political markets were only 2.2% of November volume.
Access Widened in May
The US exchange opened to the public in December 2025 with restricted access. Polymarket removed its mobile app waitlist in mid-May, which let more people trade. The company’s US arm is separate from its international platform.
Polymarket blocked US trading on the international platform after a settlement with the Commodity Futures Trading Commission (CFTC) three years ago. The agency has reportedly reopened an investigation into whether the company broke that 2022 agreement. Reuters reported that investigators are looking at location checks, advertising and customer onboarding.
Polymarket is also pursuing a $1 billion funding round at a reported $21 billion post-money valuation. Investment firm 1789 Capital, where Donald Trump Jr. is a partner, is reportedly leading the round. It is expected to put in about $300 million.
New York Attorney General Letitia James sued the company in September. The suit claims its sports event contracts violate state gambling laws. Other prediction market operators, including Kalshi, face similar state actions.
The CFTC has defended its authority over these markets. It has taken legal action involving 10 states that tried to enforce gambling laws against the platforms. In September, New Jersey officials asked the US Supreme Court to hear their case against Kalshi.
In June, Senators John Curtis and Adam Schiff asked the CFTC to look into claims that Polymarket paid influencers to promote fabricated trades. The company said it was auditing its promotional content. The New York Post reported that Polymarket later dismissed its former Chief Marketing Officer, Matthew Modabber, after an internal investigation. The findings were not made public.
On October 29, a third-party provider to the platform was compromised. Polymarket paused trading, then restored it. The company said, “Anyone who has been impacted will be made whole.” A spokesperson also told CNBC, “We welcome scrutiny.”
