Polymarket Volumes Found to Be Double-Counted; $4.13 Trade Logged as $8.26, Paradigm Says

On December 9, 2025, Storm Slivkoff, a research partner at Paradigm, said Polymarket’s trading volumes are effectively counted twice on most analytics dashboards due to redundant on-chain events. Summing the platform’s OrderFilled events records both maker and taker legs, making a $4.13 YES/NO trade show as $8.26 in reported volume. Paradigm built a simulator to show how different metrics behave across at least eight Polymarket trade types and to help analysts correct volume calculations.

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