Prediction market Polymarket’s expanded fee structure has driven a sharp rise in daily fees and retained revenue following a March 30 pricing overhaul. DefiLlama data show daily fees rising from about $363,000 on Monday to more than $1 million on both Wednesday and Thursday, while revenue — the amount kept after incentives — peaked at roughly $995,000 on Wednesday and eased to about $899,000 on Thursday.
The increase follows a Monday rollout that broadened taker fees beyond crypto and sports into categories such as finance, politics, economics, culture, weather and tech, while leaving geopolitical and world events fee-free. The move illustrates Polymarket’s efforts to monetize trading activity more aggressively as it navigates investor interest and regulatory pressure. Last week Intercontinental Exchange, parent of the New York Stock Exchange, invested $600 million in Polymarket.
The fee and revenue uptick comes amid mounting regulatory scrutiny of prediction markets worldwide. In Europe, Hungary and Portugal moved in January to block or limit access over concerns the platform operates like unlicensed gambling, with Portugal citing political-betting worries. On March 17, an Argentine court ordered a nationwide block, saying Polymarket allowed users to place bets without sufficient identity and age checks, potentially letting minors participate.
Polymarket says it’s blocked in 33 countries; rival Kalshi reports restrictions in 52 jurisdictions. In the United States, at least 11 states have taken legal action against prediction markets including Polymarket and Kalshi, issuing cease-and-desist orders or considering new legislation.
Despite regulatory headwinds, both Polymarket and Kalshi are pursuing growth and potential fundraising that could value each platform at around $20 billion. On March 24 the two platforms also introduced new trading restrictions intended to curb insider trading after criticism over well-timed bets and concerns about market integrity.
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