Polymarket’s wider fee schedule has produced a pronounced jump in daily fees and net revenue after a pricing overhaul on March 30. DefiLlama data show daily fees moved from roughly $363,000 on Monday to more than $1 million on both Wednesday and Thursday. Revenue — the portion retained after incentives — peaked at about $995,000 on Wednesday and eased to roughly $899,000 on Thursday.
The rise followed a March 30 pricing overhaul and a subsequent Monday rollout that extended taker fees beyond crypto and sports markets into categories such as finance, politics, economics, culture, weather and tech. Geopolitical and world events markets remain fee-free. The changes reflect Polymarket’s push to monetize more trading activity as it balances growing investor interest with mounting regulatory scrutiny. Last week Intercontinental Exchange, the parent company of the New York Stock Exchange, invested $600 million in Polymarket.
Regulatory pressure on prediction markets has been increasing globally. In January, Hungary and Portugal moved to block or restrict access to Polymarket over concerns it operates like unlicensed gambling, with Portugal also flagging political-betting risks. On March 17, an Argentine court ordered a nationwide block, finding Polymarket did not perform adequate identity and age verification and could therefore allow minors to participate.
Polymarket reports it is blocked in 33 countries; rival Kalshi says it faces restrictions in 52 jurisdictions. In the United States, at least 11 states have taken legal action against prediction markets, issuing cease-and-desist orders or contemplating new regulations.
Despite those headwinds, Polymarket and Kalshi continue to seek growth and potential fundraising that could value each platform near $20 billion. Both platforms also implemented new trading restrictions on March 24 intended to reduce insider trading risks after criticism over well-timed bets and market-integrity concerns.
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