Polymarket bags 97% of onchain prediction market fees after pricing overhaul Polymarket has emerged as one of the most lucrative protocols in decentralized finance (DeFi) following a significant pricing overhaul, generating approximately $7.1 million in fees during the first week of the second quarter, according to recent data. This performance suggests an annualized run rate of around $365 million if the current pace is maintained, positioning the onchain prediction platform as one of the top fee generators in the industry. The platform now captures nearly all of the sector’s revenue, accounting for 96.8% of onchain prediction market fees. The surge in fees follows a March 30 pricing adjustment that increased daily fees to approximately $1 million, a level that has remained stable as trading activity continues to remain robust. Data from DeFiLlama indicates that this pricing strategy has elevated Polymarket’s position within the DeFi ecosystem, ranking it as the eighth-largest protocol by fees. It now competes with major entities such as stablecoin issuers Circle (USDC) and Tether (USDT), as well as the decentralized derivatives exchange Hyperliquid. Beyond fees, Polymarket’s footprint extends to total value locked (TVL) on its platform. As of Tuesday, TVL surpassed $432 million, nearing its peak of around $510 million from November 2024, which coincided with the US presidential election. This growth underscores the platform’s increasing relevance in onchain prediction markets, where its share of revenue has expanded significantly. Polymarket’s fee engine has also attracted attention from mainstream institutional players. Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has deepened its investment in the platform.#polymarket #intercontinental_exchange #circle #tether #hyperliquid
