Prediction market platform Polymarket has sharply increased its daily fees and revenue following a major overhaul of its fee structure. According to data, daily fees surged from approximately $363,000 to over $1 million in the days after the March 30 changes, with revenue reaching nearly $995,000. The move comes as the platform, alongside competitor Kalshi, faces growing regulatory scrutiny and restrictions in numerous countries worldwide.
Prediction market Polymarket has seen a sharp rise in daily fees and revenue following an expansion of its fee model. Data shows daily fees climbed from about $363,000 on Monday to over $1 million on both Wednesday and Thursday.
Revenue, retained after incentives, reached as high as $995,000 on Wednesday before easing to about $899,000 on Thursday. This jump follows the rollout of a broader fee structure on Monday.
The platform expanded taker fees to categories including finance, politics, economics, culture, weather and tech. It kept geopolitical and world events fee-free.
The spike shows how aggressively Polymarket is monetizing trading activity. This occurs amid continued investor interest and global regulatory scrutiny.
Last week, Intercontinental Exchange, parent of the New York Stock Exchange, invested $600 million in Polymarket. Prediction markets face growing regulatory scrutiny across multiple jurisdictions.
In Europe, Polymarket faced restrictions in Hungary and Portugal in January. Regulators cited licensing concerns and issues around political betting.
On March 17, a court in Argentina ordered a nationwide ban on Polymarket. The court argued the platform allowed bets without sufficient identity and age verification, potentially enabling access for children.
According to Polymarket’s website, the platform is currently blocked in 33 countries. Competitor Kalshi reports being banned in 52 jurisdictions.
In the United States, at least 11 states have taken legal action against prediction markets. Several have issued cease-and-desist orders or considered new legislation.
Despite crackdowns, Polymarket and Kalshi are looking to expand. Both are reportedly exploring new funding rounds that could value each platform at around $20 billion.
On March 24, Polymarket and Kalshi introduced new trading restrictions. These aim to curb insider trading following criticism over well-timed bets.
