$12 Billion Valuation and an ICE Deal—Is Polymarket About to Go Public?
Polymarket is reportedly seeking capital at a $12 billion valuation, fueling speculation about a potential US IPO following similar moves by Kraken.Summary
Prediction market platform Polymarket is reportedly seeking new capital at a $12 billion valuation, an increase from its previous $10 billion round, leading to speculation it might pursue a US Initial Public Offering (IPO), similar to Kraken, which recently filed confidentially for an IPO after securing $800 million in funding. Polymarket's growth is supported by significant institutional backing, including $2 billion from Intercontinental Exchange (ICE), the parent company of the NYSE. Furthermore, the platform has seen rapid user growth, processed substantial trading volume, and recently announced a multi-year partnership making it the official prediction market for the UFC and Zuffa Boxing. Polymarket is also planning to launch a professional trading platform by year-end and has resumed US operations, all of which align with the preparatory steps taken by other crypto firms like Kraken and Circle before going public.
(Source：BeInCrypto)