After the Polymarket Fee Adjustment, it holds a 97% on-chain prediction market fee share.

April 7th — Per Cointelegraph, prediction market platform Polymarket saw a sharp surge in fee revenue after a March 30th fee adjustment. In the first week of April, the platform generated roughly $7.1 million in fees, translating to an annualized revenue of ~$365 million — accounting for 96.8% of total on-chain prediction market fees. By fee metrics, Polymarket has become the eighth-largest DeFi protocol, trailing only major projects like Circle (USDC), Tether (USDT), and Hyperliquid. Its total value locked (TVL) exceeds $432 million, approaching its historical high of ~$510 million during the November 2024 U.S. presidential election. On the infrastructure side: Intercontinental Exchange (ICE), parent of the New York Stock Exchange, completed a $600 million cash investment in Polymarket on March 27th as part of a $2 billion commitment. ICE will distribute the platform’s event-driven data to institutional clients. Additionally, Polymarket announced it will replace bridged USDC.e collateral on Polygon with a new 1:1 USDC-backed token named “Polymarket USD.”