Polymarket, a fast-growing prediction market platform, just hit over $1.8 billion in annualized revenue, a big jump since launching its US exchange in May.
Major sports events like the FIFA World Cup and NFL season helped drive this surge, with Combo event contracts making up more than 70% of volume traded on the platform on Sunday.
US regulator probes Polymarket advertising, settlements
Despite the boom, Polymarket is being investigated by a US regulator for its advertising and past settlement issues.
Its connection to Donald Trump Jr. now an adviser, could also draw extra attention in Washington.
The company says it's ready to work openly with lawmakers, "We welcome scrutiny," said a spokesperson.