Trading volume on Polymarket's US platform increased by approximately 266% from June to October.

On November 11, according to Cointelegraph, the monthly trading volume on Polymarket's US platform rose from $4.04 billion in June to $14.77 billion in October, an increase of approximately 266%. Data from analytics platform TickerTracker calculates trading volume based on the full settlement value of contracts.

Combined contract trading volume in October was $8.6 billion, accounting for 58.2% of the month's total; sports contract trading volume was $4.57 billion, accounting for 31%. Polymarket told CNBC that its annualized revenue has exceeded $1.8 billion, up from over $1 billion in June.

The report noted that US states are raising questions about whether federally regulated prediction markets can offer sports contracts without state gambling licenses. New York's Attorney General sued Polymarket in September, alleging that its sports-related event contracts violate state gambling laws.