Prediction market platform Polymarket is on the cusp of a significant valuation surge, with talks underway to raise funds at a valuation between $12 billion and $15 billion, representing a potential tenfold increase in just four months. This rapid rise follows a $200 million funding round in June led by Peter Thiel’s Founders Fund, which pegged the company’s value at $1 billion. Recently, Intercontinental Exchange (ICE), parent of the New York Stock Exchange, expressed interest in investing up to $2 billion at an $8 billion valuation.
Polymarket is aggressively expanding its mainstream presence through key partnerships. DraftKings will utilize Polymarket’s platform to enter the growing prediction market sector, while the National Hockey League (NHL) has established multiyear agreements with Polymarket, naming it an official prediction market partner alongside rival Kalshi. Additionally, OpenAI CEO Sam Altman’s decentralized identity project, World, has integrated Polymarket into its World App, bridging decentralized digital identity with prediction markets.
The popularity of prediction markets is surging, with global weekly trading volumes surpassing $2 billion for the first time in mid-October. Polymarket alone accounted for over $1 billion in trading volume, capturing more than half of total market activity, highlighting its dominant position in the industry.
As the prediction market sector heats up and Polymarket secures influential partnerships and substantial funding, the platform appears poised to become a major force in the financial technology landscape.