Polymarket Sees Record $1.1B in Superbowl Bets, Surpassing U.S. Election Wagers

On-chain data reveals that bettors placed a record $1.1 billion in bets on Polymarket for the Superbowl, surpassing volume from U.S. election markets. Despite regulatory scrutiny, the blockchain-based prediction platform continues to grow, attracting high-stakes traders.

The Philadelphia Eagles’ 40-22 victory over the Kansas City Chiefs saw significant betting action. A user named "abeautifulmind" profited over $550,000, bringing their total Polymarket earnings to more than $1 million. Conversely, "hubertdakid" suffered a $718,633 loss, with total platform losses exceeding $638,000.

Polymarket’s rise as a leading decentralized betting platform has drawn attention from regulators. Some countries have banned it outright, while the U.S. Commodity Futures Trading Commission (CFTC) seeks access to customer data. However, crypto attorney Aaron Brogan argues that prediction markets are not traditional gambling platforms, as they generate revenue from transaction fees rather than user losses.

Beyond game outcomes, Polymarket bettors also speculated on prop bets, such as the number of times Taylor Swift would appear on the broadcast and the duration of the national anthem. Sports-related contracts on Polymarket have now surpassed $6 billion in lifetime volume, exceeding the $5.2 billion wagered on U.S. elections.

Despite legal challenges, Polymarket’s popularity continues to soar, solidifying its status as the go-to platform for blockchain-based betting.