Prediction market platform Polymarket is poised for a meteoric rise as it enters talks to secure new funding at a valuation between $12 billion and $15 billion—a staggering leap from its $1 billion valuation just four months ago. This remarkable surge follows a $200 million funding round led by Peter Thiel’s Founders Fund in June. Earlier in the month, the New York Stock Exchange’s parent company, Intercontinental Exchange (ICE), revealed plans to invest up to $2 billion at an $8 billion valuation.
Polymarket continues to strengthen its position through high-profile partnerships, including collaborations with DraftKings, the National Hockey League (NHL), and OpenAI’s innovative digital identity project, World. DraftKings is set to leverage Polymarket’s platform as it ventures into prediction markets, while both Polymarket and rival Kalshi have secured multiyear agreements as official prediction market partners of the NHL. Additionally, OpenAI’s World App has seamlessly integrated Polymarket’s technology to expand prediction market access.
The prediction market sector is witnessing unprecedented activity, hitting a milestone weekly trading volume exceeding $2 billion as of mid-October. Polymarket leads with over $1 billion in weekly trading volume, capturing more than half of the market share, while Kalshi follows closely. This momentum signals a growing mainstream acceptance and robust investor confidence in prediction market platforms.
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