Polymarket Seeks Investment at Valuation of $12B-$15B: Bloomberg

Prediction market Polymarket is in early talks with investors for a new investment at a valuation of between $12 billion and $15 billion, Bloomberg reported on Thursday, citing people familiar with the matter.

That level would mark 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 shot to prominence during the U.S election campaign in 2024 when more than $8 billion in bets were made on the platform. Research by Dune earlier this year suggested Polymarket predicted real-world events with over 90% accuracy.

Along with its rival Kalshi, Polymarket this week signed multiyear licensing deals with the National Hockey League (NHL), which became the first professional sports league to permit the use of its trademarks by markets outside the sportsbook industry.

Kalshi raised $300 million at a $5 billion valuation earlier this month. It is now in talks for further investment that would value it after over $10 billion, according to the Bloomberg report.

Neither firm immediately responded to CoinDesk’s request for comment.