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3h ago

Polymarket in Talks to Raise $400 Million at $15 Billion Valuation

The talks signal a bid to scale event contracts into mainstream finance under tighter regulatory review.

Polymarket seeks $15b valuation as it raises capital ahead of u.s. regulatory outcome
A Polymarket ad in a New York City subway station poses the question, "What price will Bitcoin hit in 2026?"
Polymarket eyes $400 million funding round at $15 billion value
Polymarket targets $15 billion valuation in new $400m capital raise

Overview

  • Polymarket, a platform where people trade contracts on real‑world events, is negotiating a $400 million round reported Sunday that could value it near $15 billion, with total proceeds possibly approaching $1 billion if more strategic backers join.
  • The effort builds on Intercontinental Exchange’s $600 million investment in late March that set a $9 billion post‑money valuation.
  • Rival Kalshi raised over $1 billion in March at a $22 billion valuation, as prediction‑market volumes grew from about $1.2 billion in early 2025 to more than $20 billion by January 2026, according to TRM Labs.
  • Regulatory pressure is rising, with a Senate bill seeking to block sports and casino‑style contracts on registered platforms and a Nevada court fight that has limited Kalshi’s operations in the state.
  • Polymarket has signaled a crypto‑first path, with Fortune reporting plans for its own blockchain and a token airdrop that could fund growth and reward users while it works to expand in the U.S.