Polymarket is on the verge of a dramatic valuation surge, potentially skyrocketing to between $12 billion and $15 billion — a tenfold increase from just four months ago, according to Bloomberg. This move follows a $200 million funding round led by Peter Thiel’s Founders Fund that valued the startup at $1 billion earlier this year. Recently, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, revealed plans to invest up to $2 billion at an $8 billion valuation.
Strengthening its position in the competitive prediction market landscape, Polymarket has forged high-profile partnerships with DraftKings, the National Hockey League (NHL), and OpenAI’s World project. DraftKings plans to leverage Polymarket’s platform as it forays into prediction markets, while both NHL and Kalshi have secured multiyear partnerships with the startup. Additionally, OpenAI CEO Sam Altman’s World project has integrated Polymarket into its digital identity ecosystem, further expanding Polymarket’s mainstream reach.
The prediction market sector is witnessing explosive growth, with weekly trading volumes surpassing $2 billion for the first time in mid-October. Polymarket captured over half of this activity, trading above $1 billion in a single week, underscoring its rapid ascent and growing industry dominance.
As global interest swells and substantial investments pour in, Polymarket appears to be a juggernaut in the making, poised to redefine the future of prediction markets on a massive scale.
Read more at: https://cointelegraph.com/news/polymarket-valuation-could-jump-to-15b-amid-new-funding-talks