Bitwise CIO: Polymarket has achieved global scale and liquidity in the prediction market through encryption technology

On November 1, Bitwise Chief Investment Officer Matt Hougan recently expressed the view that although predicting markets is not a new thing, Polymarket has brought unprecedented global scale and liquidity through its crypto-native features.

Hougan emphasized that a prediction market without anyone participating in betting cannot be called a prediction market at all. The crypto-native characteristics of Polymarket have helped it achieve the scale and liquidity necessary to become an effective prediction market.

According to Dune data, the trading volume of the prediction market Polymarket reached $2.282 billion in October, setting a historical record with an increase of 353% month-on-month; The number of active monthly trading users reached 220682, and the number of new users added in October alone was 299741, both setting historical records.