Polymarket, a prediction market platform, has seen its annualized revenue surpass $1.8 billion—a further jump from the $1 billion it reported in June. The growth is driven primarily by its U.S.-based exchange, launched in May, which operates independently of its international DeFi platform. Notional trading volume in October exceeded $14.5 billion, far outpacing the $4 billion recorded in June. The surge was fueled by the summer World Cup and the September kickoff of the NFL season, with the popularity of multi-leg parlay event contracts further amplifying volume. The company is currently advancing a financing plan at a $21 billion valuation, but faces near-term regulatory headwinds: the U.S. Commodity Futures Trading Commission is investigating its advertising practices and whether it violated the terms of a 2022 settlement that barred U.S. residents from accessing the platform's international version. Additionally, because Donald Trump Jr. serves as an advisor, the platform may also run into resistance at the congressional level. Polymarket said it welcomes regulatory scrutiny and is willing to cooperate with lawmakers' efforts.