Polymarket Set For $200M Raise $1B Valuation
Polymarket is finalizing a $200 million funding round, valuing the company at approximately $1 billion, with Founders Fund, led by Peter Thiel, as the primary investor. Despite being banned for American users and facing an FBI search warrant, Polymarket has previously raised over $100 million. The platform recently partnered with Elon Musk’s X to integrate prediction markets with AI analysis. During the 2024 US presidential election, Polymarket's trading volume peaked at $2.5 billion in November. It allows betting on various scenarios, including geopolitical events and economic forecasts. Currently, Polymarket has around 1.2 million traders and $700 million in trading volume, with May's volume at $1.1 billion. The platform faces restrictions in multiple countries and scrutiny over potential manipulation of outcomes.
