Polymarket annualized revenue tops $1 billion six weeks after U.S. exchange launch
Polymarket's annualized revenue has surpassed $1 billion, according to a source familiar with the matter cited by Reuters and CNBC. The milestone comes roughly six weeks after the platform lifted its U.S. exchange waitlist, with CNBC reporting that World Cup trading activity helped drive the acceleration. Polymarket acquired CFTC-licensed exchange QCEX (QCX) in 2025 and operates in the United States under a CFTC order of designation, with its U.S. exchange running separately from its international platform. The platform's trading activity surged following the 2024 U.S. election cycle, and the revenue figure was reported June 26, 2026.
Polymarket's U.S. exchange operates separately from its international platform, following the end of its American waitlist.
Polymarket's $1 billion revenue run rate forces Kalshi to defend its $40 billion valuation pitch and IPO timeline with comparable financial metrics. The two CFTC-registered venues are now locked in a direct race for institutional flow and lead-table positioning.