US Markets
Home›US Markets›M&A & Deals›Polymarket in talks for a $20 billion-plus valuation f…
Polymarket in talks for a $20 billion-plus valuation fundraising round
The reported fundraising would mark Polymarket’s second valuation markup in four months after an April round at a $15 billion valuation.
Polymarket is reportedly in talks for a fresh fundraising round that would value the prediction market operator at more than $20 billion, according to Bloomberg, as the firm tries to keep pace with rivals including Kalshi.
The new valuation, if it closes, would be the second markup for Polymarket in roughly four months. Earlier in April, the company raised money at a $15 billion valuation, including a $600 million direct investment from Intercontinental Exchange, the parent of the New York Stock Exchange.
Polymarket’s growth has been tied to its regulated U.S. exchange, which launched in May. CNBC previously reported that its annualized revenue had climbed above $1 billion, and the outlet cited volume indicators including more than $100 million in daily notional volume domestically, up from about $75 million at the end of May.
Competition pressure comes from Kalshi, which closed a funding round in May at a $22 billion valuation, ahead of the rumored Polymarket mark. The Financial Times reported in June that Kalshi was already seeking another raise for the third quarter, targeting a $40 billion valuation.