Polymarket 24-hour revenue surpasses Hyperliquid during World Cup
Polymarket's 24-hour revenue surpassed Hyperliquid during the World Cup for the first time, according to X user @vonzz6. The milestone, reported by ChainCatcher and cited by Binance, made Polymarket the third-largest project by 24-hour revenue behind Tether and Circle, the USDC issuer. Hyperliquid, a decentralized perpetual exchange, had previously held the higher revenue position. The shift occurred amid peak World Cup betting activity that has driven record volumes across prediction market platforms. @vonzz6 was the original source of the revenue data for both the ChainCatcher and Weex reports.
The revenue flip gives Polymarket concrete ammunition to pitch institutional market makers that its economics now rival perpetual futures venues. Any sustained edge threatens to pull liquidity provider attention away from Hyperliquid just as DRW, Wintermute and IMC are building dedicated prediction market desks.
Polymarket's revenue climb comes as World Cup event-contract volume across Kalshi and Polymarket tops $2 billion, DRW, Wintermute and IMC build dedicated market-making desks for both platforms, and Robinhood tests Rothera against Kalshi for World Cup flow.