Juggernaut in making? Polymarket’s valuation may jump 10x to $15B with new funding
Polymarket continues to expand its mainstream reach with new partnerships, teaming up with DraftKings, the NHL and OpenAI’s World project.
Prediction market Polymarket is in early talks with investors to raise funds at a valuation of $12 billion to $15 billion, potentially marking a 10-fold surge from four months ago, Bloomberg reported on Thursday, citing people familiar with the matter.
This follows a $200 million round in June, led by Peter Thiel’s Founders Fund, which valued the startup at $1 billion. Earlier this month, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, announced plans to invest up to $2 billion in Polymarket at an $8 billion valuation.
Polymarket’s main rival, Kalshi, is also reportedly in talks for new funding that would value it at over $10 billion, more than double its worth from weeks ago when it raised $300 million at a $5 billion valuation.