Polymarket Is the Most Undervalued Company in Crypto
Mike Smith
Spicy Level
The Take
Polymarket has become the de facto global prediction market platform. When it eventually has a token or IPO, it will be valued at 10-50x what anyone currently estimates.
+Why I'm Right
Monthly volume is growing exponentially
It's the primary information source for political events globally
Network effects: more users → more liquidity → more users
The category (prediction markets) is still pre-mainstream adoption
?The Counter-Argument
“Regulatory risk is real. Polymarket could face enforcement action that destroys the business. Revenue model (trading fees on thin margins) may not justify the lofty valuation.”
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