Polymarket, the blockchain-based prediction markets platform, is in early discussions with potential investors to raise about $1 billion. This new funding round would push its valuation to over $20 billion, a significant increase from the $15 billion valuation it achieved in an April funding round which included a $600 million investment from Intercontinental Exchange (ICE), owner of the New York Stock Exchange. The company had previously secured a $15 billion valuation four months prior, with an earlier investment from ICE valuing it at roughly $8 billion in October 2025.
This move comes amidst increasing competition in the prediction markets sector. Polymarket's primary competitor, Kalshi, which operates a federally regulated exchange in the U.S., is reportedly aiming for a $40 billion valuation, following a $22 billion valuation in May. Kalshi's annualized revenue stands at approximately $1.5 billion, while Polymarket's annualized revenue has reportedly climbed well above $1 billion, tripling to over $1.2 billion since its U.S. platform launched.
Polymarket's founder and CEO, Shayne Coplan, views the platform as an information market rather than just a betting site, aiming to expand it into a broader "almanac for the future." The company has recently secured an exclusive streaming deal for all ATP Tour and Challenger matches within the prediction market category, adding to existing partnerships with MLS and MLB. This deal allows U.S. users to watch live matches alongside tradable markets, a strategy to compete more effectively with rivals like Kalshi. The broader prediction markets sector is projected to reach $240 billion in trading volume in 2026 and could hit $1 trillion annually by 2030.
