Crypto-powered prediction platform Polymarket is reportedly in talks to raise a new funding round that could value the company at $12 billion to $15 billion, representing a staggering tenfold increase from just four months ago.
According to a Bloomberg report citing sources familiar with the discussions, the latest fundraising effort follows a $200 million Series B round in June led by Peter Thiel’s Founders Fund, which pegged Polymarket’s valuation at $1 billion.
Earlier coverage: From South Park to Wall Street: Prediction Markets Are Becoming the Next Big DeFi Breakthrough
The firm’s soaring valuation reflects the explosive growth of the prediction market industry, which has increasingly captured the attention of institutional investors, regulators, and even sports leagues. Earlier this month, the Intercontinental Exchange (ICE) — parent company of the New York Stock Exchange (NYSE) — announced plans to invest up to $2 billion in Polymarket at an $8 billion valuation, signaling Wall Street’s growing interest in blockchain-powered betting and forecasting platforms.
Polymarket’s closest rival, Kalshi, is also eyeing a valuation leap. The U.S.-regulated prediction exchange is reportedly seeking funding at a valuation exceeding $10 billion, more than double its worth from just weeks earlier, when it raised $300 million at a $5 billion valuation.
As of press time, Polymarket has not responded to Cointelegraph’s request for comment on the potential funding round.
Polymarket’s Expanding Footprint: From Sports to Silicon Valley
Polymarket has been aggressively building partnerships to deepen its foothold in both mainstream entertainment and tech sectors.
Earlier this month, CEO Shayne Coplan confirmed a collaboration with DraftKings, which will leverage Polymarket as a clearinghouse for its entry into prediction markets, bridging regulated sports betting with on-chain forecasting.
In a major push into professional sports, the National Hockey League (NHL) signed multiyear partnerships with both Polymarket and Kalshi, naming them official prediction market partners — a historic first for any major sports league.
On the tech front, OpenAI CEO Sam Altman’s World Project — formerly known as Worldcoin — announced its integration with Polymarket. Through World App, a decentralized identity and wallet application, users will be able to interact directly with Polymarket’s prediction markets, merging Web3 identity with real-world event forecasting.
Prediction Markets Hit Record $2B Weekly Volume
The surge in institutional attention coincides with unprecedented trading activity. According to data from Dunedata (via Dune Analytics), global prediction markets surpassed $2 billion in weekly trading volume for the first time in mid-October.
Polymarket dominated the space, accounting for over $1 billion, or 52.3% of total volume, while Kalshi captured $950 million, roughly 47% of global market activity.
The trend underscores how blockchain-powered forecasting is evolving from a niche experiment into a multi-billion-dollar ecosystem — one increasingly intertwined with sports, politics, and financial markets.