Hassan Maishera
TL;DR
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Polymarket is reportedly seeking new capital at a valuation of $20 billion.
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The prediction market platform reportedly completed an April funding round at a $15 billion valuation.
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Intercontinental Exchange, the owner of the New York Stock Exchange, invested $600 million in that round.
Polymarket is reportedly looking to raise fresh capital at a $20 billion valuation as investor interest in blockchain-based prediction markets continues to grow.
Bloomberg reported the fundraising plans on Tuesday, citing people familiar with the matter. The potential valuation would represent a roughly 33% increase from the $15 billion figure reportedly attached to Polymarket’s previous funding round.
ICE Backed Polymarket’s Previous Funding Round
Polymarket reportedly completed a funding round in April at a $15 billion valuation. The round included a $600 million investment from Intercontinental Exchange, the parent company of the New York Stock Exchange.
The involvement of a major traditional-finance institution highlights the growing institutional interest in prediction markets and blockchain-powered trading infrastructure.
If the latest fundraising effort succeeds, it would further strengthen Polymarket’s position as one of the most valuable companies operating at the intersection of cryptocurrency, event trading and financial information.
Polymarket’s Annualized Revenue Exceeds $1 Billion
Polymarket told CNBC in June that its annualized revenue had climbed well above $1 billion.
The revenue growth came despite a decline in trading volumes during April and May. Those weaker months were offset by record activity surrounding the World Cup, demonstrating how major political, sporting and economic events can drive demand for prediction markets.
On Polymarket, traders buy and sell positions based on the likelihood of future outcomes. Market prices subsequently provide a real-time indication of how participants assess the probability of an event.
Polymarket founder and CEO Shayne Coplan has repeatedly argued that the company should be viewed as an information platform rather than a conventional betting business.
During an appearance in March, Coplan described prediction markets as a way for people to back their views financially when they disagree with the broader consensus. He characterized Polymarket as a useful “thermometer of the world” that helps users evaluate the likelihood of future events.
Coplan’s longer-term goal is to expand the platform beyond major news stories into what he has described as an “almanac for the future,” covering a much wider variety of outcomes and markets.
Prediction Markets Gain Ground in the US
Demand for prediction markets continues to rise in the United States, with several crypto-focused companies adding event-based trading products to their platforms.
Coinbase and Robinhood are among the major financial platforms expanding into the sector. Their participation could introduce prediction markets to a broader base of retail traders while intensifying competition among existing operators.
Polymarket’s largest competitor, Kalshi, is also reportedly seeking new funding. Kalshi is said to be targeting a $40 billion valuation—nearly double the valuation achieved during an earlier fundraising round.
Although both platforms allow users to trade on future events, their operating models differ. Kalshi runs a federally regulated prediction market exchange in the US, while Polymarket relies on blockchain technology and cryptocurrency-based settlement.
These differences make the platforms attractive to distinct groups of users. Kalshi appeals to traders seeking access through a regulated US exchange, while Polymarket attracts crypto-native participants interested in blockchain-based markets.
