A new analysis of Polymarket shows fewer than 1% of wallets captured roughly half of all profits across its key political markets between December 2025 and February 2026.
Solidus Labs Report Findings
Blockchain analytics firm Solidus Labs published the figures this week. About 0.55% of profitable maker wallets took home 50% of gains, while 0.26% of winning taker wallets pulled in nearly the same share.
In dollar terms, each tiny cohort split close to $8 million out of roughly $16 million in total profits.
The report also flags wash trading. Solidus says about 15% of volume in some markets showed patterns consistent with self-trading or economically neutral positions, partly tied to speculation around a coming POLY airdrop.
Also Read: Worldcoin Sees $52M In Volume As Digital Identity Narrative Regains Attention
Structural Divide Among Traders
The findings sharpen a picture from earlier academic work. A London Business School and Yale paper [found]analyzed that roughly 3% of Polymarket traders drive most price discovery.
Solidus argues the imbalance points to a structural divide. A small group operates with deep capital, faster infrastructure, and execution strategies most users cannot match.
The firm is not a neutral observer. It sells HALO, the surveillance product behind the report, and recently signed a deal to deploy it across more than 4,000 markets on Kalshi, Polymarket's largest U.S.-regulated rival.
Polymarket has been moving toward a token launch. CMO Matthew Modabber confirmed plans for the POLY rollout and an accompanying airdrop in late 2025, with the team prioritizing the platform's U.S. relaunch first. On Apr. 28, Polymarket also rolled out rebuilt smart contracts and a new pUSD collateral token.
Read Next: Terra Luna Classic Gains 5.3% As Community Burn Attention Returns