Prediction market Polymarket is on the verge of a massive valuation surge, with early talks underway to raise funds at an estimated $12 billion to $15 billion. This marks a potential 10-fold increase from just four months ago, according to insiders cited by Bloomberg. This dramatic leap follows a $200 million funding round in June led by Peter Thiel’s Founders Fund that valued the company at $1 billion. Additionally, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, recently revealed plans to invest up to $2 billion at an $8 billion valuation.
Polymarket’s rapid growth is fueled by strategic partnerships with major players such as DraftKings, which will use Polymarket’s platform as a clearinghouse in its entry into prediction markets, and the National Hockey League (NHL), which has signed multiyear agreements naming Polymarket as an official prediction market partner alongside Kalshi. Furthermore, OpenAI CEO Sam Altman’s World project has integrated Polymarket into its digital identity ecosystem, expanding Polymarket’s reach into new innovative areas.
The prediction market sector itself is booming, with weekly trading volumes surpassing $2 billion in mid-October. Polymarket alone accounted for over $1 billion of that volume, capturing more than half of the market. Rival Kalshi also showed strong activity, handling about $950 million.
With growing investor interest, powerful partnerships, and record-breaking market activity, Polymarket stands poised to disrupt the prediction market landscape and redefine its financial and technological potential. Read more here: https://cointelegraph.com/news/polymarket-valuation-could-jump-to-15b-amid-new-funding-talks