New findings suggest that a minuscule group of traders is reaping the majority of the benefits on Polymarket, with less than 1% of wallets accounting for nearly half of all profits. A report by blockchain analytics firm Solidus Labs discovered that, between December 2025 and February 2026, a mere 0.55% of profitable maker wallets and 0.26% of winning taker wallets accumulated roughly $8 million each, totaling around $16 million in profits. This data supports previous research indicating that a small minority of traders drives price discovery, with about 3% of Polymarket traders responsible for most price movements. The report highlights a significant disparity between a small group of sophisticated traders and the broader base of participants, with the former operating with distinct advantages.
Furthermore, the study identified signs of wash trading, with around 15% of volume in some markets exhibiting patterns consistent with self-trading or economically neutral positions. While some of this volume may be attributed to incentive farming, the findings raise concerns about market imbalance and the need for surveillance infrastructure.