Polymarket is in early talks to raise new capital at a valuation exceeding $20 billion, Bloomberg reported Tuesday. The move would more than double the platform's $15 billion valuation from just four months ago, signaling explosive growth momentum in the prediction markets space.
The company's last major round closed in April with backing from D.E. Shaw, G Squared, SV Angel, Dragonfly, Valor Equity Partners, and Intercontinental Exchange. Since then, activity has surged. Polymarket launched its US platform and reported annualized revenue north of $1.2 billion, fundamentals that clearly caught investors' attention ahead of this new financing push.
Strong appetite for prediction markets has only intensified as trading volumes climb. Yet Polymarket faces a hungry competitor in Kalshi, which already hit a $22 billion valuation earlier this year. The company is also under CFTC investigation over marketing practices, a regulatory headwind that hasn't dampened investor enthusiasm so far.
This is informational content about market developments and company funding. Not financial advice or investment recommendation.