Researcher Storm at Paradigm discovered a “data bug” causing over-reporting of Polymarket trading activity. The bug inflates volume metrics used for prediction markets by double-counting trades due to complex blockchain data. This revelation may impact Polymarket’s perceived success in the crypto industry. Polymarket’s valuation was reported at $9 billion by ICE, citing $25 billion in trading volume, which may now be in question. The platform previously aimed for a US launch at a $10 billion valuation and was looking to raise funds at a valuation between $12 billion and $15 billion. Dune Analytics reported a record $3.7 billion in trading volume in November, but this may be incorrect due to double-counting on various dashboards. Prediction markets are becoming a crucial financial sector, necessitating consistent and transparent reporting standards for accurate data analysis.

Read more at Cointelegraph: Polymarket Volume Double Counted In Analytics Dashboards