Polymarket seeks over $20 billion valuation in new $1 billion funding round
Polymarket, a prediction market platform, is in early talks to raise about $1 billion at a valuation exceeding $20 billion, more than doubling its October 2025 valuation. The company’s U.S. exchange, launched in May, has driven annualized revenue above $1.2 billion and daily notional volume over $100 million. The round follows a $15 billion valuation in April that included a $600 million investment from Intercontinental Exchange. Polymarket faces a CFTC probe over alleged deceptive promotions and competition from rival Kalshi, valued at $22 billion.
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Kalshi in Talks to Raise $750 Million at $40 Billion Valuation
Prediction market platform Kalshi is reportedly in discussions to raise $750 million in new funding at a $40 billion valuation, with existing investor Sequoia Capital and new investor Wellington Management considering leading the round. The company, which is privately held, is also considering an initial public offering (IPO) in 2027. Kalshi last raised $1 billion in May 2026 at a $22 billion valuation. Its annualized revenue surged to $4 billion in July 2026, driven largely by betting on the World Cup soccer tournament. Sports betting accounts for over 80% of its trading volumes. Kalshi is now the largest prediction market platform by revenue, ahead of rival Polymarket, which was last reported seeking funding at a $20 billion valuation.
Polymarket Hires Former Uber Executive Travis VanderZanden as Chief Growth Officer
Polymarket, a prediction market platform, has hired former Uber and Lyft executive Travis VanderZanden as its chief growth officer. VanderZanden, who also founded electric scooter startup Bird, is known for advocating 'blitzscaling'—a strategy of aggressive rapid growth. The hiring comes as Polymarket prepares to expand during the upcoming NFL football season and considers a potential initial public offering (IPO). The company faces stiff competition from rival prediction market Kalshi, which recorded $40 billion in trading volume in July compared to Polymarket's $12.9 billion, partly due to Kalshi's strong sports betting offerings. Additionally, cryptocurrency exchanges Coinbase and Gemini have launched their own prediction markets. Polymarket is reportedly in talks to raise new funding at a $20 billion valuation.
Polymarket Chases $20 Billion Valuation as Exclusive ATP Streaming Deal Targets the Kalshi Gap
Polymarket, the prediction market platform led by Shayne Coplan, is seeking to raise approximately $1 billion at a valuation above $20 billion, more than doubling its October valuation. The talks are preliminary, according to Bloomberg. This would nearly match rival Kalshi's $22 billion valuation from May, though Kalshi hosted three times Polymarket's trading volume last month. To close the gap, Polymarket secured exclusive streaming rights for all ATP Tour and Challenger matches within the prediction market category, allowing U.S. users to watch live matches alongside tradable markets. The deal builds on existing partnerships with MLS and MLB. A previously undisclosed round closed in April at a $15 billion valuation, including $600 million from Intercontinental Exchange (ICE), owner of the NYSE. Polymarket's annualized revenue has tripled to over $1.2 billion since its U.S. platform opened. The company also hired former Uber executive Travis VanderZanden as chief growth officer and faces a CFTC investigation over its marketing practices.
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Polymarket seeks $20 billion-plus valuation in new funding round
Polymarket, a prediction market platform, is in early talks to raise approximately $1 billion at a valuation exceeding $20 billion, according to Bloomberg and CNBC. If completed, this round would more than double its $9 billion valuation from October 2025. The company recently opened its U.S. exchange to the public, driving annualized revenue above $1.2 billion and daily notional volume on the U.S. exchange to over $100 million. The new funding would be the first since the U.S. exchange went fully live in May. Polymarket faces competition from Kalshi, which was valued at $22 billion in May and is reportedly seeking a $40 billion valuation. Additionally, Polymarket is under investigation by the U.S. Commodity Futures Trading Commission over alleged deceptive promotional activity on social media. The company has hired senior executives from Uber, Lyft, and the New York Stock Exchange to lead growth and exchange development.
Polymarket seeks $20 billion-plus valuation in new funding round
Polymarket, the prediction market platform, is in early talks to raise approximately $1 billion at a valuation exceeding $20 billion, according to Bloomberg and CNBC. If completed, this round would more than double its $9 billion valuation from October 2025. The company recently opened its U.S. exchange to the public, driving annualized revenue above $1.2 billion and daily notional volume over $100 million on the U.S. platform. The fundraising follows a $15 billion valuation round in April that included D.E. Shaw, G Squared, and a $600 million investment from Intercontinental Exchange. Polymarket faces a CFTC probe over alleged deceptive promotional activity, which the company says it is reviewing. Rival Kalshi was valued at $22 billion in May and is reportedly seeking a $40 billion valuation. Polymarket has hired former Uber and Lyft executive Travis VanderZanden as chief growth officer and NYSE infrastructure engineer Hayk Mkrtchyan to oversee U.S. exchange development.
Polymarket in Talks for Fundraising Round at Over $20 Billion Valuation
Prediction market platform Polymarket is in discussions for a new funding round that would value the company at more than $20 billion, a source familiar with the matter confirmed to CNBC. The talks follow the company's disclosure in late June that its annualized revenue exceeded $1 billion after launching its regulated U.S. exchange in May. Polymarket previously closed a funding round in April at a $15 billion valuation, which included a $600 million investment from Intercontinental Exchange, owner of the New York Stock Exchange. The company's U.S. exchange now processes over $100 million in daily notional volume, up from $75 million in late May, while its international platform sees over $150 million daily. The prediction market sector continues to grow rapidly, with rival Kalshi reportedly seeking a $40 billion valuation in its next funding round.