Polymarket says its annualized revenue has surpassed $1.8 billion.

BlockBeats news, November 10: Prediction market platform Polymarket told CNBC on Tuesday that its annualized revenue has surpassed $1.8 billion. This figure represents further growth from June of this year, when Polymarket disclosed that its annualized revenue run rate had exceeded $1 billion, following the company's launch of its U.S. domestic trading platform in May.

Polymarket's revenue growth is primarily driven by the expansion of its U.S. trading platform business. The trading platform operates as an independent venue, separate from its international decentralized finance platform. According to data from analytics platform TickerTracker, Polymarket's U.S. domestic trading platform recorded over $14.5 billion in notional trading volume in October, a significant increase from $4 billion in June.

This growth was mainly fueled by several high-profile events, including this summer's FIFA World Cup and the NFL's new season that began in September. In addition, the growing popularity of Combo event contracts also provided support for volume growth.