Polymarket in Talks To Raise Funds at Up to $15B Valuation

With a valuation of between $12 billion and $15 billion, Polymarket is in the early stages of talks with investors to seek more funds. Since Peter Thiel’s Founders Fund led a $200 million round in June, valuing the business at $1 billion, the new valuation would represent a more than tenfold increase. The New York Stock Exchange’s parent company, Intercontinental Exchange, agreed earlier this month to spend up to $2 billion at a valuation of $8 billion. This transaction strengthened Polymarket’s relationships with well-known financial institutions and made CEO Shayne Coplan the youngest self-made billionaire. Weekly trade volumes reached $2 billion during the week ending October 19, the largest in Polymarket’s history, reflecting a spike in prediction market activity. With event-based markets serving as sentiment indicators for elections, policy, and sports events, the growth reflects growing demand from both retail and institutional traders.