Quick Facts:
- Polymarket recorded over $1.1 billion in bets for the Super Bowl, setting a new record.
- Betting categories ranged from final scores to Taylor Swift’s screen time.
- The CFTC continues to scrutinize prediction markets, raising regulatory concerns.
The Super Bowl betting frenzy hit new highs on Polymarket, with users placing over $1.1 billion in bets ahead of the big game. Despite ongoing regulatory scrutiny surrounding prediction markets in the U.S., the event shattered previous betting records on the blockchain-based prediction platform.
The decentralized betting exchange saw an unprecedented surge in activity as bettors placed high-stakes wagers on everything from the game’s final score to halftime performances. The event far surpassed previous betting volumes, with more than double the action recorded during the 2024 Presidential Election betting markets.
The betting enthusiasm wasn’t just limited to game-related predictions. Bettors also placed millions on niche markets, such as the length of the national anthem, the color of the Gatorade shower, songs to be performed by Kendrick Lamar and whether Taylor Swift would be shown on screen more than five times during the broadcast.
Regulators Tighten Grip on Prediction Markets
The record-breaking betting activity comes amid growing concerns from U.S. regulators. The Commodity Futures Trading Commission (CFTC) has been increasing scrutiny on prediction markets, questioning whether platforms like Polymarket should be classified as unregulated derivatives exchanges.
Last year, the CFTC fined Polymarket $1.4 million for offering event-based contracts without proper registration. The agency’s past leadership, under former CFTC Chair Rostin Behnam, was known for its aggressive crackdown on prediction markets, frustratingPolymarket and other platforms’ efforts to expand into regulated event-based betting.
Behnam’s CFTC previously denied multiple attempts by Polymarket and Kalshi to offer political betting contracts, citing concerns over gambling laws and market integrity. However, in a clear policy shift, acting CFTC Chair Caroline Pham has taken a pro-innovation stance, calling the previous administration’s heavy-handed approach excessive.
Pham has publicly argued that the CFTC should work toward “common-sense regulation” rather than outright bans, a position welcomed by the decentralized betting community.
Big Wins from the Super Bowl LIX Event
The Philadelphia Eagles secured a dominant 40-22 victory over the Kansas City Chiefs, and for one lucky bettor, the win was a massive payday.
On-chain data from Polymarket Analytics reveals that a user going by the handle ‘abeautifulmind’ took home a staggering $550,000 profit from their bets on the Eagles. Further data revealed by Coindesk shows that this trader has amassed over $1 million in total profits, with the majority coming from sports-related bets.
As sports betting continues to gain traction, lifetime volume from sports-related contracts on Polymarket has now exceeded $6 billion, surpassing the platform’s $5.2 billion total volume from U.S. election markets.
