Home›Crypto›Market Structure›Polymarket weighs a fresh raise at a $20B valuation

Polymarket weighs a fresh raise at a $20B valuation

Bloomberg reports Polymarket closed a $15B round in April that included a $600 million investment from Intercontinental Exchange.

Reported · Written up by our desk · Market Structure

Blockchain-based prediction markets platform Polymarket is reportedly pursuing another funding round at a $20 billion valuation, according to Bloomberg, citing people familiar with the matter. Polymarket CEO Shayne Coplan said the company wants to build an “information market,” rather than just a betting venue.

The outlet reported that Polymarket previously closed a funding round at a $15 billion valuation in April, which included a $600 million investment from Intercontinental Exchange, the owner of the New York Stock Exchange. In June, Polymarket told CNBC its annualized revenue had climbed well above $1 billion even as trading volumes fell in April and May, a dip that was offset by record highs during the World Cup.

Polymarket has also positioned itself as broader than headline events. Coplan has described prediction markets as a way to test disagreements with market consensus, and he has said the long-term goal is to expand into a wider “almanac for the future” that covers more markets.

The competitive landscape continues to heat up in the U.S. as Coinbase and Robinhood expand prediction market offerings, while Kalshi is reportedly seeking capital at a $40 billion valuation and operates a federally regulated exchange, while Polymarket uses blockchain infrastructure and crypto-based settlement.

More like this

Sources