world-economy

Polymarket Eyes $20 Billion-Plus Valuation in New Funding Round

Polymarket is pursuing a fresh capital raise that would value the prediction market platform above $20 billion. The valuation marks significant growth since the company closed an April funding round at $15 billion, which included a $600 million direct investment from Intercontinental Exchange. Polymarket reported annualized revenue exceeding $1 billion in late June following its regulated U.S. exchange launch. The company's regulated platform is recording more than $100 million in notional daily volume, up from roughly $75 million in late May. Rival prediction market operator Kalshi recently closed a $22 billion funding round and is reportedly targeting a $40 billion valuation in upcoming capital discussions. Prediction market platforms continue experiencing substantial growth while remaining privately held.