Prediction market Polymarket is reportedly engaged in early discussions with investors to secure funding at a valuation between $12 billion and $15 billion. This potential surge, representing a tenfold increase from just four months ago, underscores the rapid growth and mainstream appeal of the platform. This follows a $200 million funding round in June led by Peter Thiel’s Founders Fund, which valued Polymarket at $1 billion. Recently, 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 rivals are also attracting significant investor interest. Kalshi, another key player in the prediction market space, is in talks for new funding that could value it at over $10 billion, doubling its valuation from a recent $5 billion raise.
Polymarket continues to expand through strategic partnerships, recently teaming up with DraftKings, which will utilize the platform as a clearinghouse for its entry into prediction markets. The National Hockey League (NHL) has signed multiyear agreements naming Polymarket and Kalshi as official prediction market partners. Additionally, OpenAI CEO Sam Altman’s digital identity project, World, has integrated Polymarket into its World App, combining digital wallet capabilities with decentralized identity tools.
The prediction market sector is witnessing unprecedented growth, with weekly trading volumes exceeding $2 billion for the first time. Polymarket alone accounted for over $1 billion in trading volume during the peak week, capturing more than half of the market share, while competitor Kalshi held about 47%.
These developments highlight Polymarket’s emerging dominance and suggest that the platform is poised for substantial growth as it secures new funding and broadens its mainstream reach.
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