Data from blockchain analytics firm Dune shows that wallets funded through US-regulated exchanges account for approximately 50% of traceable trading volume on Polymarket, the prediction market platform banned for US users.
Since January 2021, US-sourced capital has maintained a significant presence on Polymarket's global platform, according to analysis cited by Bloomberg. The finding reveals substantial circumvention of the platform's US trading restrictions through regulated exchange funding.
Polymarket, which operates as a decentralized prediction market, faces regulatory scrutiny from US authorities over its use in wagering on political and current events. The platform prohibits direct access from US IP addresses and users, yet the Dune data demonstrates that enforcement mechanisms remain porous.
The 50% figure represents traceable volume only—actual US participation may be higher when accounting for obfuscated transactions and indirect funding methods. The data underscores ongoing challenges regulators face in enforcing geographic restrictions on decentralized finance platforms.
Polymarket has become increasingly prominent for event prediction markets, from elections to sports. The platform's continued appeal to US traders despite formal bans highlights the tension between regulatory authority and decentralized finance accessibility.
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