Polymarket

Prediction Markets · Fintech · Crypto

Funding

Polymarket reportedly in talks to raise $1B at $20B+ valuation

The prediction market operator would more than double its price tag in about four months as it races a rival also chasing a bigger number.

• Polymarket is in early talks to raise about $1 billion at a valuation above $20 billion, according to Bloomberg, with a person familiar confirming the talks to CNBC.
• Polymarket, founded in 2020 by Shayne Coplan, runs a blockchain-based prediction market on Polygon settled in USDC, letting users trade on outcomes from elections to crypto prices.
• The new round would follow a previously undisclosed close in April at a $15 billion valuation that included roughly $600 million from Intercontinental Exchange, owner of the NYSE.
• Polymarket's annualized revenue has climbed above $1 billion, and its regulated U.S. exchange, launched in May, now processes over $100 million in daily notional volume.
• The proposed $20B+ mark would push Polymarket roughly level with rival Kalshi, which closed a round at a $22 billion valuation in May and is reportedly now seeking $40 billion.
• Kalshi hosted roughly three times Polymarket's trading volume last month, underscoring the gap Polymarket's fresh capital and content deals aim to close.
• Back-to-back mega-valuations for both prediction market leaders show investors treating the category as a durable new financial infrastructure layer, not a passing crypto fad.