Crypto venture capital firm ParaFiCapital said in a post on the X platform that with the 2024 US election approaching, Polymarket has reached $688 million in trading volume so far this year, and its weekly active users have grown from around 1,400 to over 20,000, an increase of about 14 times. Polymarket web traffic has also grown exponentially, with daily pageviews increasing tenfold over the past 12 months to more than 32 million cumulative pageviews. In the second half of July, daily pageviews peaked at 1.30 million and daily visitors peaked at 185,000. Of the nearly 70,000 addresses using Polymarket, only 42% first traded in election-related markets. The remaining 58% (about 40,000 users) initially traded in non-election markets, including cultural, business, scientific, and macro markets.