Polymarket has achieved a $90 billion valuation following a $2 billion funding round, marking one of the largest financings in the crypto sector recently. The platform's growth in liquidity and user engagement has been accelerated by a strategic investment from ICE. This influx of capital has expanded arbitrage opportunities, with senior traders employing strategies like 'tail cleaning' and exploiting 'total probability < 100%' in multi-outcome markets for risk-free profits. Automated bots are increasingly dominating these arbitrage strategies, while market makers benefit from platform incentives and liquidity provision. Additionally, Polymarket's 2028 U.S. election market offers a 4% annualized yield and extra rewards for liquidity providers, creating a complex income model for advanced participants.