Juggernaut in making? Polymarket’s valuation may jump 10x to $15B with new funding
Polymarket is reportedly seeking new funding that could value the prediction market platform up to $15 billion, a 10x increase since June.Summary
Prediction market platform Polymarket is reportedly in early discussions with investors to raise funds at a valuation between $12 billion and $15 billion. This potential valuation represents a tenfold increase from its $1 billion valuation achieved during a $200 million funding round in June, led by Peter Thiel’s Founders Fund. This news follows Intercontinental Exchange's (ICE) recent announcement to invest up to $2 billion in Polymarket at an $8 billion valuation. Polymarket's main competitor, Kalshi, is also reportedly seeking funding that would value it over $10 billion. The platform has recently expanded its mainstream presence through partnerships with DraftKings, which will use Polymarket as a clearinghouse, and multiyear agreements with the NHL, naming both Polymarket and Kalshi as official prediction market partners. Furthermore, OpenAI CEO Sam Altman’s project, World, is integrating Polymarket into its World App. Global interest in prediction markets is surging, with weekly trading volumes surpassing $2 billion in mid-October, where Polymarket captured over $1 billion in volume.
(Source：Cointelegraph)