Polymarket Seeks over $20 Billion Valuation in Funding Round, Bloomberg News Reports
Polymarket’s talks follow annualized revenue above $1 billion and an April round that valued the prediction-market platform at $15 billion.
- On Tuesday, Polymarket is in early discussions to raise about $1 billion at a valuation exceeding $20 billion, according to reports confirmed to CNBC.
- The company previously closed an April funding round at $15 billion valuation, which included a $600 million investment from New York Stock Exchange parent Intercontinental Exchange Inc.
- Since the April close, annualized revenue has climbed to more than $1.2 billion, while daily U.S. exchange volume exceeds $100 million and the international platform handles above $150 million daily.
- Chief rival Kalshi is reportedly seeking capital at a $40 billion valuation, nearly double its previous $22 billion round, intensifying competition in the prediction market space.
- Polymarket founder and CEO Shayne Coplan envisions the platform as an 'almanac for the future,' arguing prediction markets let people 'put your money where your mouth is' on future outcomes.
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Polymarket seeks over $20 billion valuation in funding round, Bloomberg ...
Polymarket Targets $20 Billion Valuation Amid Market Expansion
Prediction market platform Polymarket is in discussions to raise fresh capital at a valuation exceeding $20 billion, according to a person familiar with the matter, as reported by CNBC. Bloomberg first reported the fundraising talks. The potential valuation follows strong business growth after Polymarket launched its regulated U.S. exchange in May. The company told CNBC in June that its annualized revenue had climbed well above $1 billion.💡The …
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