Polymarket aims to raise $400 million to strengthen its position in prediction market
Prediction market platform Polymarket is in talks with investors to raise another $400 million. The round could be conducted at a $15 billion valuation.
According to The Information, citing sources, if the deal goes through, it will continue the trend of institutional capital flowing into the prediction market sector. In late March, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, invested $600 million in Polymarket, while its competitor Kalshi was valued at around $22 billion in its latest funding round.
Polymarket is now looking to attract not only ICE but also other strategic investors. The total size of the next funding round could reach $1 billion.
Why prediction markets are gaining popularity
Prediction markets began to grow rapidly during the 2024 US presidential election. Today, their combined monthly trading volume consistently exceeds $10 billion. Users place bets on a wide range of events — from sports and politics to financial results and cultural trends.
Against this backdrop, interest from major Wall Street players is also increasing. In early March, one of Nasdaq’s options exchanges, Nasdaq MRX, filed to launch cash-settled binary contracts on the Nasdaq-100 index.
Other companies are preparing similar products. Cboe Global Markets is also launching a prediction market-style offering, while CME Group has partnered with US betting company FanDuel. This will allow traders to bet not only on financial markets but also on events beyond finance.
Last week, traditional finance firms Charles Schwab and Citadel Securities also signaled potential plans to enter the sector.
Leaders of the prediction market
Today, the leading players in the prediction market are Polymarket and Kalshi, which follow different models. Polymarket operates on blockchain and targets a global audience of crypto traders, offering access to markets without strict jurisdictional restrictions. This makes the platform more flexible and popular among users, but also attracts greater regulatory scrutiny.
Kalshi, on the other hand, focuses on compliance with US regulations. The platform is registered with and regulated by the Commodity Futures Trading Commission (CFTC), allowing it to officially offer products in the US market. However, this approach limits the range of offerings and slows the launch of new markets.
It is worth noting that both platforms have recently tightened their rules amid increasing regulatory pressure.
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