From discussing the U.S. elections to predicting Taylor Swift's relationships, and betting on short-term fluctuations in the crypto market, the decentralized prediction market platform Polymarket has become a unique intersection of information and finance. The platform features both thrill-seeking retail investors and arbitrage bots that quietly profit using algorithms. As the platform's valuation skyrockets to $9 billion and it secures substantial funding, this ecosystem composed of diverse players is becoming increasingly complex. Who exactly is playing on Polymarket?

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When a country begins to accept cryptocurrency for weapon orders, crypto assets are no longer a matter of "financial innovation" or "gray tools," but are officially incorporated into the national survival and foreign strategy system.
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A set of cold data reveals a harsh reality: more than half of cryptocurrencies have gone to zero, with 11.6 million tokens disappearing from the market in 2025 alone. In the fourth quarter of 2025, as many as 7.7 million tokens vanished from the market, accounting for 66.4% of the total tokens that went to zero that year. The data shows that the total number of cryptocurrency projects skyrocketed from 428,000 in 2021 to nearly 20.2 million in 2025, a 47-fold increase over five years. This data not only records the burst of the market bubble but also foreshadows

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