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The Real Rate Index45.30.00Palanor: Inflation Pulse50.7+0.09Palanor: Geopolitical Stress60.0-2.16Palanor: Liquidity57.9-0.79Palanor: Capital Tightness47.5+0.91Palanor: Industrial Pulse70.10.00Palanor: AI Margin Compression53.4+0.29Palanor: Consumer Confidence48.6+0.50Palanor: US Dollar Strength46.50.00Palanor: Labor Heat63.2-0.01Palanor: Recession Vocabulary28.1+0.54Palanor: Uncertainty Index53.4+1.24Palanor: US Jobs Health40.30.00Palanor: Energy Transition37.0-0.52Palanor: Reshoring Sentiment22.8+0.54Palanor: AI Substitution28.4-0.24The Social Fabric Index45.70.00Palanor: Geopolitical Anxiety19.4-0.45Palanor: Quit Pressure37.6+0.42The Mania Index88.00.00The Palanor Index57.1-0.51Cost Disease Spread33.20.00Palanor: US vs China49.5-0.17Rise of Socialism Index40.8-0.26The Bubble Memory79.90.00Palanor: Steward Confidence50.8+0.13The Long Watch90.30.00The Reshoring Index55.2+0.00The Capital Return Index81.0-0.75The Discourse Index72.4+1.83The Hesitation Index30.8-6.58Palanor AI Inference Cost Index71.2-0.03The AI Capex Race Index78.4+1.36The Boardroom Index82.5-0.00The Layoff Cycle Index32.8-2.51Capital Deployment Posture Index62.3+1.26The Consumer Health Index41.7-2.96Labor Hours Composite44.40.00The Dollar Erosion Index66.6+0.14Palanor: Risk Appetite36.2+0.83
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Polymarket Open Interest (USD, On-Chain)

Latest

374,552,745.44usd

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Methodology

## What this measures

The dollars locked as collateral behind Polymarket's open positions at the end of each UTC day. Every Polymarket position is minted as a complete set of outcome tokens backed by 1 USDC.e (a dollar stablecoin), so the collateral held is open interest at $1 face per set. Daily.

## Why it matters

Polymarket is one of the two biggest prediction markets by trading. Its open interest shows how much money is committed to its outcomes, and it is read straight from the blockchain, so it does not depend on what the company reports.

## How to read it

Higher means more money locked in open positions. It climbs into big events, such as the 2024 U.S. election, and drops when they resolve and winners redeem. Read it beside Kalshi to see where event trading is concentrating.

## What it does not say

It counts collateral, not traders or trading activity. Winning positions in resolved markets stay in the total until their holders redeem, which many do within days. It covers Polymarket's global exchange on Polygon only, not Polymarket's separate U.S. exchange, which does not settle on Polygon. In its early years Polymarket ran automated market-maker pools; liquidity in those pools is collateral in the same contract and is counted. The Conditional Tokens contract is a shared standard, so any collateral other applications lock there is included too.

## Source

Palanor calculation from Polygon chain data: the USDC.e (0x2791Bca1f2de4661ED88A30C99A7a9449Aa84174) balance at the last block of each UTC day of the Gnosis Conditional Tokens contract Polymarket uses (0x4D97DCd97eC945f40cF65F87097ACe5EA0476045) plus the NegRisk WrappedCollateral contract that backs multi-outcome markets (0x3A3BD7bb9528E159577F7C2e685CC81A765002E2). Since Polymarket's April 2026 upgrade users trade in pUSD, which the exchange unwraps to USDC.e before minting positions, so the same two balances still hold the collateral. Read with standard blockchain calls; no Polymarket data product is used.

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