Polymarket seeks ~$1B raise at over $20B valuation

Published Aug 4, 02:21 PM UTC

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.