Research from blockchain analytics firm Solidus Labs indicates that a minuscule group of traders is dominating the profits on Polymarket, with under 1% of wallets accounting for approximately half of all gains in key markets. Between December 2025 and February 2026, a mere 0.55% of profitable maker wallets and 0.26% of winning taker wallets captured around 50% of the profits, translating to roughly $8 million out of $16 million in dollar terms.
This phenomenon is consistent with previous academic findings that a small minority of traders drives most price discovery. While this concentration of wealth does not necessarily imply wrongdoing, it highlights a significant disparity between a small group of sophisticated traders and the broader base of participants. The report also identifies signs of wash trading, with around 15% of volume in some markets exhibiting patterns consistent with self-trading or economically neutral positions.
This has led to speculation about incentive farming and the potential impact of Polymarket's forthcoming POLY airdrop, which may factor in trading volume as a metric to allocate tokens.