Polymarket, a decentralized predictions market built on the Polygon PoS blockchain, has gained immense popularity in 2024, particularly with bettors wagering nearly $2.4 billion on events such as the upcoming U.S. presidential election. Despite its success in user engagement, Polygon has seen minimal financial returns from Polymarket, generating only about $27,000 in transaction fees this year, a figure attributed to the low transaction costs on the network. Polygon Labs CEO Marc Boiron explained that the fee structure includes a base fee that is burned and a priority fee paid to validators, which tends to be low when there is ample blockspace. Polymarket's usage, while significant, doesn’t match that of more intensive DeFi applications. Even so, the attention it draws to Polygon is viewed positively, as it showcases the blockchain’s capabilities and could lead to greater integration and user adoption in the future.

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