US accounts for 30% of Polymarket volume, with up to $26.7B in deposits

Approximately 30% of Polymarket's total trading volume originates from the United States, despite a legal ban on its use by American residents, Wired reported. The report cites a study by Harry Crane, a statistics professor at Rutgers University, which estimates that U.S. users deposited between $10.6 billion and $26.7 billion on the platform from May 2025 to late April 2026. The study based its estimates on the concentration of American users in U.S.-centric markets, such as American elections and sports, and their distinct trading hours. Notably, half of all sports market trading was found to have been conducted from the U.S. If Polymarket maintains its current market share, U.S. trading volume is projected to reach $133 billion by 2030. U.S. users are reportedly circumventing the ban, which was implemented in 2022, by using VPNs to mask their location. Polymarket was prohibited in the U.S. in 2022 for operating an unregistered derivatives exchange. However, since December 2025, the company has been operating a separately licensed mobile app, "Polymarket US."