Polymarket is reportedly in early discussions with investors to raise new capital at a valuation between $12 billion and $15 billion, according to a Bloomberg report citing sources familiar with the matter.
If realized, the valuation would represent more than a tenfold increase since June, when Peter Thiel’s Founders Fund led a $200 million funding round valuing the prediction market startup at $1 billion.
Earlier this month, Intercontinental Exchange (ICE), owner of the New York Stock Exchange, agreed to invest up to $2 billion at an $8 billion valuation. That deal not only made CEO Shayne Coplan the youngest self-made billionaire but also strengthened Polymarket’s connections with established financial institutions.
Prediction Market Growth on the Rise
Polymarket’s expansion has mirrored a surge in prediction market activity, with weekly trading volumes surpassing $2 billion in the week ending Oct. 19—the highest in its history. The growth reflects increasing interest from both retail and institutional traders who use event-based markets as sentiment indicators for elections, policy, and sports outcomes.
Rival platform Kalshi is also drawing investor attention, reportedly receiving offers that value it above $10 billion—more than double its last funding round. Both Polymarket and Kalshi are expanding into regulated markets, with Kalshi operating under Commodity Futures Trading Commission oversight and Polymarket planning a compliant U.S. rollout via its acquisition of QCEX earlier this year.
Strategic Partnerships Broaden Reach
Polymarket has also forged partnerships with DraftKings and the National Hockey League (NHL), marking the first major U.S. sports league collaborations in the prediction market space. Under these agreements, Polymarket will serve as a clearinghouse for DraftKings’ prediction markets and integrate official NHL data into its trading platform.
The platform continues to expand its blockchain support, adding Binance’s BNB Chain for deposits and withdrawals alongside existing integrations with Polygon and Chainlink. If the new funding round goes through, it could accelerate Polymarket’s U.S. expansion, regulatory compliance efforts, and technology upgrades.
