{"id":64333,"date":"2025-12-09T11:52:09","date_gmt":"2025-12-09T11:52:09","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/polymarket-accused-of-alleged-double-counted-volume-in-most-public-data\/"},"modified":"2025-12-09T11:52:09","modified_gmt":"2025-12-09T11:52:09","slug":"polymarket-accused-of-alleged-double-counted-volume-in-most-public-data","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/polymarket-accused-of-alleged-double-counted-volume-in-most-public-data\/","title":{"rendered":"Polymarket accused of alleged double-counted volume in most public data"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/12\/Polymarket-accused-of-alleged-double-counted-volume-e1765279959827-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/12\/Polymarket-accused-of-alleged-double-counted-volume-e1765279959827-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/12\/Polymarket-accused-of-alleged-double-counted-volume-e1765279959827-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/12\/Polymarket-accused-of-alleged-double-counted-volume-e1765279959827-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>Recent research shows Polymarket trades are double-counted on most public dashboards.<\/li>\n<li>The issue stems from redundant maker-taker events in smart contracts.<\/li>\n<li>According to the allegations, the actual volumes are roughly half of what dashboards report.<\/li>\n<\/ul>\n<p>Polymarket, the prominent prediction market platform, is facing scrutiny after research by Storm Slivkoff suggested that the platform\u2019s reported trading volumes may be systematically inflated across most public analytics dashboards.<\/p>\n<p>The controversy has drawn attention from industry experts, data analysts, and market participants, raising questions about how trading activity is measured and reported in decentralised prediction markets.<\/p>\n<h2>Polymarket gives separate OrderFilled events for makers and takers<\/h2>\n<p>The research by Storm Slivkoff, a partner at Paradigm, which was later <a href=\"https:\/\/x.com\/matthuang\/status\/1998130355631776123?s=20\">highlighted<\/a> by Paradigm co-founder Matt Huang, has identified a technical discrepancy in Polymarket\u2019s on-chain smart contract data.<\/p>\n<p>According to Slivkoff, the platform emits separate OrderFilled events for both the maker and taker sides of each trade.<\/p>\n<p>While each event is individually accurate, most public dashboards aggregate all events indiscriminately, effectively counting the same trade twice.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">found a pretty major data bug<\/p>\n<p>it turns out almost every major dashboard has been double-counting Polymarket volume (not related to wash trading)<\/p>\n<p>this is because Polymarket&#8217;s onchain data contains redundant representations of each trade. receipts \u2b07\ufe0f\u2b07\ufe0f <a href=\"https:\/\/t.co\/rQJEzs2Rfl\">pic.twitter.com\/rQJEzs2Rfl<\/a><\/p>\n<p>\u2014 storm (@notnotstorm) <a href=\"https:\/\/twitter.com\/notnotstorm\/status\/1998127491609923969?ref_src=twsrc%5Etfw\">December 8, 2025<\/a><\/p>\n<\/blockquote>\n<p>A simple transaction demonstrates the problem. One trade of YES tokens for $4.13 generated two identical events for the same amount, which dashboards then summed to report $8.26 in trading volume.<\/p>\n<p>Slivkoff <a href=\"https:\/\/x.com\/notnotstorm\/status\/1998127504134115638?s=20\">noted<\/a> that this bug affects both notional volume (the number of contracts traded) and cashflow volume (the dollar value exchanged), thereby inflating every trade\u2019s representation.<\/p>\n<p>Notably, the error is unrelated to wash trading and results purely from the way Polymarket\u2019s contracts emit data.<\/p>\n<h2>Polymarket refutes the volume double-counting claims<\/h2>\n<p>Polymarket\u2019s internal team quickly pushed back against the allegations, asserting that the official site reports taker-side volume without double-counting, in line with standard industry practices.<\/p>\n<p>The platform has emphasised that the issue primarily impacts third-party dashboards, which rely on raw event data from smart contracts without implementing corrections for redundant entries.<\/p>\n<p>Notably, several major data providers, including DefiLlama, Allium Labs, and Blockworks, have confirmed they are updating their dashboards to account for the discrepancy.<\/p>\n<p>Some data providers have, however, defended current methodologies, noting that more sophisticated dashboards had accounted for the distinction since 2024 but had not formally documented their approach.<\/p>\n<p>Other data providers have criticised Paradigm for potential bias, as the firm holds investments in Kalshi, a competing US-based prediction market.<\/p>\n<h2>The broader market implications<\/h2>\n<p>Beyond the immediate question of reported volume, the controversy underscores broader challenges in accurately measuring activity on prediction market platforms.<\/p>\n<p>Low-priced contracts can create disproportionately large notional volumes relative to actual capital at risk, making traditional volume metrics potentially misleading.<\/p>\n<p>Experts have suggested that metrics such as open interest and fee revenue may offer a clearer picture of platform activity.<\/p>\n<p>The timing of the revelation is also notable, coinciding with Polymarket\u2019s plans for a full US relaunch following <a href=\"https:\/\/coinjournal.net\/news\/polymarket-secures-regulatory-clearance-to-relaunch-in-the-us\/\">CFTC regulatory approval<\/a> and an anticipated valuation of $12 billion to $15 billion.<\/p>\n<p>The platform is also exploring an internal market-making operation that could trade against customers, raising further scrutiny and comparison to competitors like Kalshi.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/polymarket-accused-of-alleged-double-counted-volume-in-most-public-data\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Recent research shows Polymarket trades are double-counted on most public dashboards. The issue stems from redundant maker-taker events in smart contracts. According to the allegations, the actual volumes are roughly half of what dashboards report. Polymarket, the prominent prediction market platform, [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":64334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/64333"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=64333"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/64333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/64334"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=64333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=64333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=64333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}