Polymarket Looks to Raise $400M in Funding, Targets $15B Valuation

(AsiaGameHub) –   Polymarket, a leading global prediction market platform that recently re-entered the US market, is now said to be aiming to secure $400 million in new funding. This capital raise would support the company’s goal of achieving a $15 billion valuation.

This fresh fundraising effort follows related developments, after the Intercontinental Exchange, which owns the New York Stock Exchange, declared an extra $600 million investment in the firm. This was part of a reported $1-billion funding round that included backers such as Donald Trump Jr., Vitalik Buterin, and Peter Thiel’s Founders Fund.

Polymarket Misses Initial $20B Target, Settles for Less

Earlier indications had Polymarket’s potential valuation as high as $20 billion, but the latest rumors point to a revised, more attainable target.

Consequently, Polymarket will remain behind Kalshi in valuation, with Kalshi currently holding a $22 billion valuation after growing elevenfold in the last year.

Kalshi has rapidly advanced into the prediction market, particularly within the United States. It began by offering contracts on the latest US Presidential election and swiftly broadened its event contract offerings.

Polymarket managed to resume operations in the United States following a prior regulatory expulsion, finding the administration of President Donald Trump considerably more receptive than previous ones.

The expansion of both Kalshi and Polymarket into sports event contracts has alarmed state gaming regulators, leading to a quick reaction from the Commodity Futures Trading Commission (CFTC). The CFTC has filed suit against a number of the nation’s governors and attorneys general.

Regulatory Challenges Persist, as Do Concerns about Integrity

The CFTC alleges that certain states are attempting to override its regulatory power and substitute state laws for federal ones. Meanwhile, gaming regulators continue a difficult struggle against Kalshi and Polymarket, contending that their event contracts are essentially gambling.

In anticipation of criticism over alleged insider trading—a pattern noted specifically around the Trump administration in a recent BBC report—Polymarket has strengthened some of its protective measures.

The platform has taken a firmer position against such activity and has declined to settle certain markets due to integrity worries, also noting that the specific wording of those markets disqualified them from a payout.