Etymology
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palmy (adj.)

"triumphant, flourishing," literally "worthy of the palm" (of victory or triumph), c. 1600, from palm (n.2) in the "triumph" sense + -y (2). The meaning "full of palms" attested from 1660s.

updated on December 22, 2019

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Definitions of palmy from WordNet

palmy (adj.)
very lively and profitable;
a palmy time for stockbrokers
Synonyms: booming / flourishing / prospering / prosperous / roaring / thriving
Etymologies are not definitions. From wordnet.princeton.edu, not affiliated with etymonline.