Prediction market Polymarket is in early discussions with investors to secure funding at a valuation between $12 billion and $15 billion, signaling a potential tenfold increase from its value four months ago, according to Bloomberg sources. This follows a $200 million funding round in June led by Peter Thiel’s Founders Fund that valued the company at $1 billion. Recently, Intercontinental Exchange (ICE), 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 negotiating new funding that could value it above $10 billion, more than doubling its valuation after raising $300 million at $5 billion weeks earlier.
Polymarket is rapidly expanding its reach through strategic partnerships. CEO Shayne Coplan announced that DraftKings will utilize Polymarket’s platform as a clearinghouse as it enters prediction markets. The National Hockey League (NHL) has formalized multiyear partnerships with both Polymarket and Kalshi, naming them official prediction market partners.
Moreover, OpenAI CEO Sam Altman’s digital identity project, World (previously Worldcoin), is integrating Polymarket into its World App, merging digital wallet capabilities with decentralized identity tools.
Prediction markets as a whole are experiencing unprecedented growth, with weekly trading volumes exceeding $2 billion for the first time in mid-October. Polymarket accounted for over $1 billion, representing 52.3% of the market activity, while Kalshi held about 47% with $950 million in trading volume.
As investor enthusiasm builds and partnerships deepen, Polymarket is positioning itself as a dominant force in the burgeoning prediction market space, potentially redefining market engagement and financial speculation for the mainstream audience.