Polymarket Accused of Double-Counting its Trading Volume

Paradigm co-founder Matt Huang has amplified research alleging that prediction market Polymarket may be inflating its reported trading volumes through a data aggregation error that causes double-counting across most third-party analytics platforms. The findings, detailed by Paradigm research partner Storm Slivkoff, suggest the issue affects public datasets and dashboards that rely on Polymarket’s disclosed figures, potentially overstating the platform’s actual activity by approximately 100%. The controversy emerged as Huang reshared Slivkoff’s analysis on X, sparking immediate pushback from Polymarket’s data team and criticism that Paradigm, an investor in rival platform Kalshi, was attempting to discredit a competitor through technical semantics. Polymarket data bug: volumes are double-counted in most public data Interesting find in diligence from @notnotstorm https://t.co/xuQ41JUVHf — Matt Huang (@matthuang) December 8, 2025 Technical Root of Volume Dispute Slivkoff’s investigation reveals that Polymarket’s smart contracts emit separate OrderFilled events for the maker and taker sides of each trade, resulting...

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