“two percent of users drive ninety percent of polymarket's volume, splitting into algorithmic pros and casual political bettors”
Categorizes every active Polymarket wallet across trade frequency and volume tiers, producing a seven-persona map of platform participants. Finds that 2% of users (high-frequency, high-capital wallets) generate roughly 90% of all platform volume, with crypto markets dominated by algorithmic execution and politics markets driven by casual event-driven participants. Draws implications for fee design, category expansion, and why optimizing for user growth versus volume growth requires fundamentally different product decisions.
Some technical background helpful
Platforms mentioned: Polymarket