Prediction Market Polymarket is in preliminary talks with investors for a new investment with a valuation of between $12 billion and $15 billion, Bloomberg reported Thursday, citing people familiar with the matter.
That level would represent a more than 10-fold increase from its $1 billion valuation in June, when it raised $200 million in a round led by Peter Thiel’s Founders Fund.
Polymarket rose to prominence during the 2024 US election campaign, when over $8 billion in bets were made on the platform. A study by Dune earlier this year suggested that Polymarket predicted real-world events with over 90% accuracy.
Alongside rival Kalshi, Polymarket this week signed multi-year licensing deals with the National Hockey League (NHL), which became the first professional sports league to allow its brands to be used by markets outside the sports betting industry.
Kalshi raised $300 million at a $5 billion valuation earlier this month. According to the Bloomberg report, the country is currently in talks for new investments that would make it worth more than $10 billion.
Neither company immediately responded to CoinDesk’s request for comment.
