9.3 Polymarket

Strengths:

• First-mover advantage

• Strong brand recognition ($3B+ 2024 election volume)

• CLOB provides tight spreads on liquid markets

• Simple, polished UX

Weaknesses:

• Requires professional market makers

• Single platform (no ecosystem)

• High fees (2%)

• Oracle centralization risk (UMA-based)

• Limited to binary markets primarily

Path Advantage:

• Lower fees (0.4% vs. 2%)

• Platform ecosystem enables multiple UIs

• Multi-outcome native support

• Creator and platform revenue sharing

• No market maker capital required