Predictions market platform Polymarket has surpassed $1 billion in annualized revenue, just six weeks after its US exchange launch. According to a CNBC report, Polymarket disclosed the annualized revenue numbers, with the company’s trading volume exploding in the last month. Volume on the company’s U.S. platform has gone from around $50 million per day in mid-May to more than $200 million on June 20, according to data on Dune Analytics. On Polymarket’s international platform, weekly trading volume totals have surged to all-time highs amid the World Cup boom.

Polymarket’s US exchange launched in December 2026, capitalizing on the company’s lifted ban from operating in the US that had existed since 2022. The exchange has revealed several huge updates this year, including enabling users to trade private companies and even announcing its own 1:1 USD stablecoin.

“Polymarket is a product-led company,” a spokesperson said in a statement to CNBC. “We spent the last five years building the world’s largest prediction market and understanding how people engage with markets at scale. We are applying those learnings to our U.S. platform, where our focus is on intuitive market experiences, institutional-grade liquidity and a consumer experience that sets the standard for the category.”

In other news for Polymarket, the exchange is in hot water after scammers hacked into its website. Hackers recently infiltrated Polymarket’s website via a compromised third-party vendor, the company said, swiping approximately $3 million in crypto from users. As a result, Polymarket said that impacted users will be fully reimbursed.