Summary
- Polymarket is pursuing a new funding round aiming to achieve a $3 billion valuation.
- The platform is reportedly actively leveraging the surge in trading volume and user activity resulting from the 2024 U.S. presidential election to raise funds.
- Amid growing investor and regulatory interest in prediction markets, it was reported that despite investigations by U.S. authorities, the company continues to provide services within permitted jurisdictions.
On the 12th (local time), according to crypto-focused media Crypto Briefing, decentralized prediction market platform Polymarket is pursuing a new funding round to raise its valuation to $3 billion. This is more than three times the previous round.
Polymarket appears to be seeking to leverage the surge in trading volume and user activity, driven by its prominence in the 2024 U.S. presidential election, for fundraising. The platform currently operates on the Polygon (POL) blockchain and allows betting with crypto on various real-world events including politics, economics, and culture.
Amid growing investor and regulatory attention on prediction markets, Polymarket has also been the subject of investigation by U.S. authorities. However, the company continues to provide services within jurisdictions where it is permitted.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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