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Today @Polymarket introduces fees
Core metrics are already near ATH
2024 (election cycle):
• Volume: $532M
• OI: $275M
2026:
• Volume: $408M
• OI: $460M (~2x vs 2024)
Volume is dropped 23%, but capital per market is higher
The key variable now is monetization
Zero-fee liquidity was always @Polymarket’s core edge (especially for market makers and arbitrageurs)
Fees change that directly:
> market makers reprice their edge
> liquidity depth potentially thins out (spreads will increase)
> casual users won't notice (until the odds get worse)
Sustainable revenue is smart long-term, but will the uptrend continue after fees are included?