Prediction market platform Polymarket is reportedly in early discussions with investors to raise capital at a valuation between $12 billion and $15 billion—a potential 10-fold increase from just four months ago, Bloomberg reported Thursday, citing sources familiar with the matter.
This comes after a $200 million funding 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, revealed plans to invest up to $2 billion in Polymarket at an $8 billion valuation.
Polymarket’s main competitor, Kalshi, is also reportedly exploring new funding that could value it at more than $10 billion, more than double its recent $5 billion valuation after raising $300 million weeks ago.
Expanding Partnerships
Polymarket has been actively broadening its partnerships. CEO Shayne Coplan recently announced that DraftKings will use Polymarket as a clearinghouse for its entry into prediction markets.
The National Hockey League (NHL) has signed multiyear deals with both Polymarket and Kalshi, naming them official prediction market partners.
Additionally, OpenAI CEO Sam Altman’s digital identity project, World (formerly Worldcoin), is expanding into prediction markets by integrating Polymarket. Its mobile app, World App—which combines a digital wallet with the decentralized identity tool World ID—now features the Polymarket App.
Record Trading Volumes in Prediction Markets
Interest in prediction markets is surging globally. According to data from Dunedata via Dune Analytics, weekly trading volumes surpassed $2 billion for the first time in mid-October, highlighting growing adoption and market activity.
During the week, Polymarket saw over $1 billion in trading volume, capturing 52.3% of total market activity. Meanwhile, rival Kalshi accounted for about $950 million, or 47% of the total.
