the decentralized prediction market platform Polymarket saw a significant increase in trading activity last month, while its competitor Kalshi still maintained a leading position in trading volume in October.

Data from The Block shows that in October, Polymarket's monthly active traders rose to 477,850, reaching a historical high, surpassing the previous high of 462,600 recorded in January.

This marks the platform breaking free from the downward trend in monthly active traders for the whole year - in August, the monthly active traders had dropped to a low of 227,420. The number of active traders in October grew by 93.7% compared to September, with Polymarket previously reporting 246,610 monthly active users in September.

From February to August, Polymarket's monthly trading volume remained below $1 billion or around $1 billion, while last month the platform's monthly trading volume also rose to $3.02 billion, setting a new record. In addition, Polymarket added 38,270 new markets in October, nearly three times the number of new markets added in August.