Polymarket has collected $6.8M in fees, according to latest on chain data And it's growing exponentialy If we extrapolate current revenues to a year, without even taking further growth into account, we get a $355B annual revenue. This puts Polymarket's $20B valuation at 56x it's ARR. That's extremely bullish for any potential $POLY token considering the standards of the industry for comparison : $ETH: $876M ARR / $266.5B FDV (304.3x multiple) $SOL: $206.7M ARR / $47.8B FDV (231.0x) $ADA: $5.5M ARR / $11.4B FDV (2074.7x lmao) $POLY : $353.6M ARR / $20.0B FDV (56.6x) Of course, any new token will increase the FDV of Polymarket that for now only includes equity, and the value generated will have to be shared between the token and the equity. But it show that there is still a ton of upside left for when token comes out