According to Artemis data, Polymarket's annualized expenses exceeded $700 million based on daily expenses of nearly $2 million on April 2nd; Even according to the latest data on April 6th, the daily expenses are still $993800, and the annualized expenses exceed $300 million. Polymarket has officially become one of the most profitable native applications in the field of encryption, ranging from top 5-10. The main reason for the surge in income is: On March 30th, Fee Structure V2 (Fee Structure 2.0) was officially launched. Before this, it was almost zero cost, mainly to attract users to play first. Now, we are starting to consider commercialization, with sufficient trading volume, stable income, support for operations, subsidies for market makers, etc. What are the points of Cost Structure 2.0: One is the introduction of a dynamic probability based fees model, which is somewhat interesting: The cost is not a fixed percentage, but is dynamically calculated based on market probability (p): fee=C x fee Rate x p x (1-p), where C is the number of trading shares; FeeRate is a category specific constant (different market categories vary); P is the share price (0-1). When the probability approaches 50% (with the highest uncertainty and most active trading), the cost is highest (with peaks ranging from 0.75% to approximately 1.8% for different categories, with Crypto being the highest). When the probability approaches 0% or 100% (the result is almost certain), the cost quickly drops to near zero. This encourages trading in high uncertainty markets while allowing the taker to pay fees for instant transactions, while the maker remains completely free and can also receive 20-25% maker rebates, which come from the taker's fees. Secondly, the scope of collecting taker fees has been expanded Previously, only Crypto (starting from January 2026) and Sports (starting from February) charged taker fees, while almost all others such as Politics, Finance, Economics, Culture, Weather, Tech, etc. were free. Starting from March 30th, the fee will be extended to almost all categories (with only a few remaining free, such as Geopolitics/World Events). This directly turns a large number of previously 'free trading' markets into fee based markets, and the trading volume base instantly increases. This means a shift in Polymarket's business model: In the early days, Polymarket relied on "burning money to subsidize liquidity" growth (the cost income was mainly used for maker rebates, and the net income was very low); The new structure allows fee income to directly subsidize market makers, enhancing the depth of order books and bid ask spreads, while the platform begins to retain a portion as real income; Shift from 'growth first' to a balanced approach of 'growth+monetization', with the goal of becoming a sustainable predictive market infrastructure.