A new study by on-chain analyst Andrey Sergeenkov reveals that 84.1% of Polymarket traders have incurred losses. Analyzing 2.5 million wallet addresses on Polygon, the research found that only 2% of traders have made over $1,000, and a mere 0.033% have earned $100,000. The odds of consistently earning $5,000 monthly are less than 1%, with only 2.6% of profitable traders remaining active for over a year. Despite these findings, Polymarket continues to expand, recently partnering with MLB as its exclusive prediction market. The platform, which has seen a 130x growth in trading volumes from 2024 to 2025, is also launching a new stablecoin, Polymarket USD, to replace USDC.e. However, concerns remain about the sustainability of profits for individual traders, especially as a new referral program could increase retail signups without adequate user education.