Polymarket’s international prediction market posted $7.1 billion in trading volume in May, marking the platform’s second consecutive month of declining international activity.
That May total represents a decrease from the $9 billion recorded in April and sits below the platform’s March high of $10.5 billion. Data compiled by Dune Analytics shows the reversal comes after an extended period of expansion earlier in the cycle - between August and March the platform’s volumes grew by more than 850 percent.
Performance across Polymarket’s operations was mixed in May. The platform’s U.S. arm increased activity, with reported volume rising to $1.77 billion from $1.26 billion in April. The divergent trends highlight differing momentum between international markets and the U.S. business.
Polymarket’s international slowdown occurred while at least one rival reported substantially larger throughput. Kalshi, a principal competitor on the prediction-market landscape, processed more than $17.9 billion in volume during May.
There are early signs that the recent pattern for Polymarket’s international operation could be shifting. Preliminary figures for the first week of June show $1.9 billion in volume on Polymarket’s international platform, the largest single-week total since late April. Those early-June numbers represent a weekly high but do not yet establish a sustained trend.
Observers and participants should note the limitations of the available data: month-to-month and week-to-week fluctuations are visible, and the recent May decline in international volume follows a period of rapid expansion. The available figures show increased activity in the U.S. arm and a substantial throughput advantage for at least one competitor during May.
Bottom line - Polymarket’s international trading volume retreated to $7.1 billion in May after consecutive monthly declines, while U.S. volumes increased and preliminary early-June data showed a single-week rebound.