TechFlow news — On November 1, Matt Hougan, Chief Investment Officer at Bitwise, recently stated that while prediction markets are not new, Polymarket has brought an unprecedented global scale and liquidity through its crypto-native features.
Hougan emphasized that a prediction market with no participants placing bets cannot truly be called a prediction market. Polymarket's crypto-native design has helped it achieve the scale and liquidity necessary to become an effective prediction market.
According to Dune analytics data, Polymarket achieved a trading volume of $2.282 billion in October, a record high and a 353% increase from the previous month. The number of monthly active trading users reached 220,682, with 299,741 new users added in October alone—both figures setting new all-time highs.
