Polymarket Seeks $1 Billion Fundraise at Valuation Above $20 Billion
Summary
- Polymarket is pursuing a new fundraising round of about $1 billion at a target valuation of more than $20 billion.
- If completed, the fundraising would lift Polymarket's valuation to more than double the $9 billion it was assigned in October 2025.
- Polymarket has posted more than $1.2 billion in annualized revenue since launching its US platform, but rival Kalshi is handling three times more trading volume and a CFTC investigation is underway.
Forecast Trend Report by Period
Polymarket, the decentralized prediction-market platform, is seeking to raise about $1 billion at a valuation of more than $20 billion.
Bloomberg reported on August 4 that the company is in early talks with potential investors, though terms have yet to be finalized.
Prediction markets allow users to trade on the outcomes of real-world events such as sports matches, elections and economic data releases. Investor interest has risen as users and trading volumes have grown rapidly at Polymarket and rival Kalshi.
If the fundraising is completed, Polymarket's valuation would be more than double the $9 billion it was assigned in an October 2025 financing round. Kalshi said in May that its latest fundraising valued the company at $22 billion.
Polymarket also raised funding in April at a $15 billion valuation. Hedge fund D.E. Shaw and venture capital firm G Squared joined that round as new investors.
Existing investors SV Angel, Dragonfly and Valor Equity Partners also committed additional capital. Total funding in that round reached about $1 billion, including a $600 million investment from Intercontinental Exchange, Bloomberg reported.
Since the April fundraising, Polymarket has launched a US platform. Annualized revenue has more than tripled to over $1.2 billion. Trading volume across the broader prediction-market sector also surged in June and July during the FIFA World Cup.
Kalshi, however, has grown faster than Polymarket this year. Data compiled by Dune Analytics show Kalshi's trading volume last month was about three times that of Polymarket. Polymarket has lost further ground as it has grappled with operational and legal issues.
Regulatory uncertainty also persists. The Commodity Futures Trading Commission is investigating Polymarket's social-media activity over allegations that it encouraged misleading promotion.
Polymarket has also accelerated its US expansion by hiring executives from Uber and Lyft, along with an engineer who led development of trading systems for the New York Stock Exchange.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.