Prediction market Polymarket is on track for a monumental leap, with early funding talks indicating a valuation soaring between $12 billion and $15 billion — a staggering 10-fold increase compared to just four months ago, according to Bloomberg sources. This surge follows a $200 million funding round in June led by Peter Thiel’s Founders Fund that valued Polymarket at $1 billion. Notably, Intercontinental Exchange, the parent of the New York Stock Exchange, announced intentions to invest up to $2 billion at an $8 billion valuation earlier this month.
Polymarket’s rapid ascent is bolstered by strategic partnerships with major players like DraftKings, which is leveraging the platform to enter prediction markets, and the NHL, which has formalized multi-year agreements with both Polymarket and its chief competitor Kalshi. Further expanding its ecosystem, Polymarket integrated with OpenAI CEO Sam Altman’s World project, linking prediction markets with decentralized digital identities through the World App.
The prediction market sector itself is witnessing unprecedented growth, crossing $2 billion in weekly trading volume mid-October, with Polymarket commanding over half of the market activity. This dynamic expansion underlines Polymarket’s emergence as a juggernaut in the crypto and prediction market space, attracting substantial investor confidence and industry partnerships alike.
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