Blockchain-based prediction market Polymarket is reportedly closing in on a $200 million funding round that would value the company at around $1 billion, according to Reuters and Bloomberg, citing sources familiar with the matter.
The round is expected to be led by Founders Fund, the venture capital firm backed by billionaire entrepreneur Peter Thiel.
Achieving a $1 billion valuation would grant Polymarket “unicorn” status, even though the platform remains off-limits to U.S. users. In November, the FBI executed a search warrant and seized electronics from founder Shayne Coplan amid concerns the platform was accessible to Americans.
Polymarket has already raised over $100 million to date, including a previously undisclosed $50 million investment earlier in 2025, the reports noted.
This latest funding effort follows the company’s recent partnership with Elon Musk’s social media platform X, announced in early June. The collaboration aims to integrate Polymarket’s prediction tools with analysis from Grok, X’s artificial intelligence chatbot.
Polymarket enables users to wager on virtually anything
Polymarket saw a surge in activity during the 2024 U.S. presidential election, with trading volumes exceeding $2.5 billion in November as users bet with cryptocurrency on election results and a variety of other topics.
The platform offers markets on a broad spectrum of real-world scenarios, including whether Israel will launch another strike on Iran, the probability of a U.S. recession in 2025, the chances of a Russia-Ukraine ceasefire in July, upcoming Federal Reserve interest rate decisions, and the outcome of the New York City mayoral primary.
As of now, Polymarket also reflects an 87% probability that the GENIUS Act—a bill focused on stablecoin regulation—will be signed into law this year.
Monthly trading volume surpasses $1 billion
The global prediction market currently boasts approximately 1.2 million traders, 21,000 active markets, 20 million open positions, and $700 million in total trading volume, according to data from Polymarket’s analytics platform.
Dune Analytics reports that Polymarket’s trading volume for May reached roughly $1.1 billion—marking a 56% decline from its November peak of about $2.5 billion.
Polymarket Faces Blockades and Backlash
Beyond its ban in the United States, Polymarket has also been restricted or prohibited in several other countries, including France, Singapore, Thailand, Taiwan, Poland, and Belgium.
The platform has come under fire for alleged manipulation of prediction market outcomes, drawing criticism and regulatory scrutiny.
Polymarket operates in a competitive space alongside other prediction platforms such as Kalshi, which counts Y Combinator and Sequoia Capital among its backers.
