Polymarket is poised for a meteoric rise, with early-stage funding talks suggesting a valuation leap to between $12 billion and $15 billion, a potential tenfold increase in just four months. This follows a $200 million funding round in June led by Peter Thiel’s Founders Fund that valued the platform at $1 billion. More recently, Intercontinental Exchange (ICE), owner of the New York Stock Exchange, revealed plans to invest up to $2 billion in Polymarket at an $8 billion valuation.
Polymarket is aggressively expanding its mainstream footprint through strategic partnerships. It has teamed up with DraftKings, which will utilize the platform as a gateway into prediction markets, while the NHL has signed multiyear deals naming Polymarket and rival Kalshi as official prediction market partners. Furthermore, OpenAI CEO Sam Altman’s digital identity initiative, World, has integrated Polymarket into its World App, blending decentralized identity with prediction market capabilities.
The prediction market sector itself is experiencing unprecedented growth, with weekly trading volumes surpassing $2 billion in mid-October—a new record. Polymarket commanded a majority share, accounting for over $1 billion in trading volume, signifying a commanding position over the competition.
With surging interest, substantial capital backing, and innovative partnerships, Polymarket is rapidly emerging as a juggernaut in the prediction market space, setting the stage for a transformative impact on how markets forecast global events.
Read more: https://cointelegraph.com/news/polymarket-valuation-could-jump-to-15b-amid-new-funding-talks