87% of users of the Polymarket prediction market faced losses

What’s new? According to the analytical blockchain platform Layerhub, out of more than 176 000 unique users of the largest decentralized cryptocurrency prediction market, Polymarket, managed to make a profit of only 13,3% of wallets. Out of a total of 23 411 profitable wallets, only 2148 users earned over $1000.

LayerHub data

What else is known? Among the profitable wallets, 1448 earned $500-1000, while another 5956 earned $100-500. The vast majority of successful users (13 859) earned less than $100.

Of the total, 152 665 users, or 86,7% experienced losses. Of these, 101 583 lost in the $100 range. Losses in the range of $100 to $500 were recorded for 29 925 accounts, while another 6923 users lost $500 to $1000. There were 14 234 people who experienced losses of more than $1000.

In total, Polymarkets conducted 10,79 million betting transactions with a trading volume of $2,27 billion. As of October 9, open interest stands at $159,6 million.

Between October 6 and October 8, more than 300 000 trades were made on the platform daily due to current world events such as the upcoming US presidential election and the ongoing military conflicts between Israel and Iran, as well as Russia and Ukraine.

25 096 wallets participated in more than 50 transactions, and another 32 247 conducted from 20 to 50 transactions. However, the majority of users are not so active: 57 846 wallets conducted from one to five transactions.

Positive balance was recorded in 95 663. Of these, 26,7% have balances ranging from $1 to $10. 29,2% of wallets hold $10 to $30. 25% of users have funds from $30 to $100. Only 19,2% of wallets store more than this amount.

In late September, it became known that the Polymarket team intends to raise $50 million and launch its own token. Earlier, the integration of the platform was carried out by the aggregator Bloomberg Terminal. Major media are increasingly relying on Polymarket data as a source of public opinion.

The most popular event on the platform is the outcome of the November presidential election in the United States. At the moment, the victory of Donald Trump is predicted by 53% of users, in favor of Kamala Harris gave 46% of votes with a total amount of bets of $1,6 billion.

Sporting events are also popular, with users betting on potential NBA and Super Bowl champions.