A juggernaut in making? Polymarket’s valuation could jump 10x to $15B with new funding

Polymarket continues to expand its mainstream reach with new partnerships, teaming up with DraftKings, the NHL and OpenAI’s World project.

Prediction market Polymarket is in early talks with investors to raise new funding at a valuation between $12 billion and $15 billion, potentially marking a tenfold surge from just four months ago, Bloomberg reported Thursday, citing people familiar with the matter.

The rise follows a $200 million round in June, led by Peter Thiel’s Founders Fund, which valued the startup at $1 billion. Earlier this month, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, announced plans to invest up to $2 billion in Polymarket at an $8 billion valuation.

Polymarket’s main rival, Kalshi, is also reportedly in talks for new funding that would value it at over $10 billion, more than double its worth from just weeks ago when it raised $300 million at a $5 billion valuation.

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