Polymarket’s daily fee revenue exceeded $1 million on April 1, just two days after the platform expanded taker fees to nearly all market categories.
The jump from $696,000 on March 31st followed the introduction of variable taker fees across political, financial, economic, cultural, weather and technology markets on March 30th.
From growth strategy to profit machine
Polymarket previously only charged fees for cryptocurrencies and sports contracts. The updated structure applies a dynamic probability-based model in which prices peak at a 50% probability of outcome and fall near the extremes.
The cryptocurrency market has the highest interest rate at 1.80%, while sports remains the lowest at 0.75%.
Manufacturers pay nothing. Instead, you receive a daily USDC rebate of 20% to 25% of the fees you collect, depending on the category. Geopolitics and World Events remains completely free.
On-chain analyst DefiOasis noted that Dune Analytics’ April 1 fees amounted to $927,000, which translates to an annualized run rate of approximately $338 million.
“The latest full daily rate on April 1st was $927,000, and it is expected that the daily rate could exceed $1 million in the coming days. Based on the daily rate on April 1st, Polymarket’s annualized value would reach $338 million,” the analyst noted.
According to DefiLlama data, the figure was even higher, at $1.07 million.
Competition intensifies across the chain
Price revisions will be made as new entrants gather in the prediction market. Binance Wallet has begun beta testing its in-app prediction feature through Predict Fun (Predict.fun), a BNB smart chain protocol, and saw net inflows of $7.68 million in the first day following the integration.
Predict Fun’s open interest has recovered to $23 million, according to DefiOasis.
The monthly estimated market size is now over $20 billion across the industry.
From Polymarket’s fee expansion to Kalshi’s $1.5 billion annual run rate, the sector’s rapid monetization signals a broader shift from subsidized growth to sustainable returns.
Polymarket’s ability to maintain fees above $1 million per day will depend on the resilience of trading volumes as takers adapt to the new cost structure.
