# How Polymarket Makes Money: $46.6 Million in Taker Fees in Four Months

Historical scope checked against the publication dated 25 October 2026. This record describes that earlier version; subsequent page changes are not covered.

Selected calculations checked in Lean. The empirical study is not formally proved.

Calculation and displayed-value checks:

- The monthly displayed fee estimates sum to 46,639,686 dollars. (`how_does_polymarket_make_money_1`; arithmetic).
- The category estimates total one dollar less than the monthly estimates. (`how_does_polymarket_make_money_2`; arithmetic).
- Every displayed fee-per-stake chart value matches the 7/100 coefficient. (`how_does_polymarket_make_money_3`; arithmetic).
- Every displayed fee-per-stake chart value matches the 5/100 coefficient. (`how_does_polymarket_make_money_4`; arithmetic).
- Every displayed fee-per-stake chart value matches the 4/100 coefficient. (`how_does_polymarket_make_money_5`; arithmetic).
- Displayed Crypto, 0.07 values lie between 0 and 100 in break-even-chart. (`how_does_polymarket_make_money_6`; displayed-value-domain).
- Displayed Sports, economics, culture, weather, other, 0.05 values lie between 0 and 100 in break-even-chart. (`how_does_polymarket_make_money_7`; displayed-value-domain).
- Displayed Politics, finance, tech, mentions, 0.04 values lie between 0 and 100 in break-even-chart. (`how_does_polymarket_make_money_8`; displayed-value-domain).

The earlier 26-theorem fee package remains available at https://vultax.com/datasets/polymarket-fee-proof-2026-10-24/README.md. Neither package reconstructs the historical fill tape or proves collected revenue.

Outside the proof:

- Authenticity, completeness and accuracy of source observations.
- Data collection, sampling, classification, bootstrap intervals and causal inference.
- Current prices, policy, legal status, allegations, product claims and future outcomes.
- Production code correctness, execution, available liquidity and profitability.

[Selected Lean calculations](../LibraryChecks.lean). [Mathematical definitions](../ResearchModels.lean). [About this public subset](../README.md).

Body SHA-256: `d9a9b287d3a35d081aa8486cfd2a26becac2344cf16bc64964dfcae2a5686ee0`. Source observations are premises, not conclusions of the proofs.

25 Oct 2026: the body hash now leaves out the photograph block (image), as it already left out sources and updatedAt. The scope is unchanged. Previous body SHA-256: 771655895797df9f2e18f473ef3b80b519a42da02aa79212580bfa1b43c15a15.