According to reports, the blockchain prediction market platform Polymarket is finalizing a $200 million funding round, which will value the company at approximately $1 billion.
According to Reuters and Bloomberg, citing informed sources on Tuesday, billionaire entrepreneur Peter Thiel's Founders Fund will lead the funding round for Polymarket.
Although the platform prohibits U.S. users from participating, a $1 billion valuation would grant the company "unicorn" status. The FBI even executed a search warrant on the platform in November, seizing the electronic devices of founder Shayne Coplan due to concerns that Polymarket might provide access to U.S. citizens.
The report added that Polymarket has previously raised over $100 million, including an undisclosed $50 million investment earlier in 2025.
The latest funding round comes after the prediction platform announced a partnership with Elon Musk's social media platform X in early June. The two companies aim to combine Polymarket's prediction market with the analysis of the AI chatbot Grok.
The platform experienced explosive growth during the 2024 U.S. presidential election, with trading volume surpassing $2.5 billion in November, as bettors used cryptocurrency to wager on election outcomes and various other events.
The platform allows betting on various scenarios, such as whether Israel will strike Iran again, the likelihood of a U.S. economic recession in 2025, the chances of a ceasefire between Russia and Ukraine in July, Federal Reserve interest rate decisions, and the results of the New York City mayoral primary.
The platform also indicates an 87% chance that the stablecoin bill GENIUS will be signed into law this year.
According to Polymarket's analytics platform, this global prediction market currently has about 1.2 million traders, 21,000 open markets, 20 million open positions, and $700 million in trading volume.
Data from Dune Analytics shows that Polymarket's monthly trading volume in May was approximately $1.1 billion, a 56% decrease from the peak of about $2.5 billion in November.
In addition to the U.S. ban, Polymarket is also prohibited or restricted in France, Singapore, Thailand, Taiwan, Poland, and Belgium.
The platform is also facing backlash and scrutiny due to allegations of manipulating prediction market outcomes.
Polymarket competes with other prediction platforms, including Kalshi, which is backed by Y Combinator and Sequoia Capital.
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Original article: “Reports say Polymarket is set to raise $200 million at a $1 billion valuation”
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