Blockchain prediction market platform Polymarket is finalizing a $200 million funding spherical that will worth the corporate at roughly $1 billion, in keeping with reviews.
Billionaire entrepreneur Peter Thiel’s Founders Fund is about to guide Polymarket’s funding spherical, Reuters and Bloomberg reported on Tuesday, citing folks accustomed to the matter.
The $1 billion valuation would give the corporate “unicorn” standing regardless of it being banned for American customers. The FBI even executed a search warrant on the platform in November, seizing founder Shayne Coplan’s electronics over considerations that Polymarket was doubtlessly giving entry to People.
Polymarket had beforehand raised over $100 million, together with an undisclosed $50 million funding earlier in 2025, the reviews added.
The most recent funding spherical comes after the prediction platform announced a partnership with Elon Musk’s social media platform X in early June. The 2 firms purpose to mix Polymarket’s prediction markets with evaluation from the unreal intelligence chatbot Grok.
Polymarket permits betting on every thing
The platform skilled explosive development throughout the 2024 US presidential election, with buying and selling quantity topping $2.5 billion in November as bettors used cryptocurrency to wager on election outcomes and a number of different occasions.
The platform permits bets on a variety of eventualities, reminiscent of whether or not Israel will once more strike Iran, the chance of a US recession in 2025, odds on a Russia-Ukraine ceasefire in July, Federal Reserve fee choices, and the result of the New York Metropolis mayoral major.
Associated: Polymarket gives US stablecoin bill 89% chance of becoming law
The platform additionally shows an 87% likelihood that the stablecoin invoice, the GENIUS Act, shall be signed into legislation this 12 months.
Over $1B in month-to-month quantity
The worldwide prediction market presently has round 1.2 million merchants, 21,000 open markets, 20 million open positions and $700 million in buying and selling quantity, according to the Polymarket analytics platform.
In keeping with Dune Analytics, Polymarket’s month-to-month buying and selling quantity for Might was round $1.1 billion, down 56% from its November peak of round $2.5 billion.
Polymarket blockades and backlash
Along with the US blockade, Polymarket has additionally been banned or restricted in France, Singapore, Thailand, Taiwan, Poland and Belgium.
The platform has additionally confronted backlash and scrutiny over allegations of prediction market final result manipulation.
Polymarket competes with different prediction platforms, together with Kalshi, which is backed by Y Combinator and Sequoia Capital.
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