Polymarket experienced its first monthly trading volume decline since August, with April's combined volume on its platforms dropping to $10.2 billion from March's $11.2 billion, according to Dune Analytics. This decline comes as competition intensifies in the prediction-market space, with Kalshi reporting a 13% increase in trading volume to $14.8 billion for the same period. The broader prediction-market sector saw a 12.4% increase in total monthly volume, reaching $29.8 billion in April. Polymarket is navigating regulatory challenges as it seeks to re-enter the US market, having launched a dedicated US app in December 2025. Meanwhile, new entrants like Prophet and MoonPay are introducing AI-driven models and tools, reshaping the landscape of event-based markets.