Polymarket seeks $400M in new funding at $15B valuation By Investing.com

Investing.com -- Polymarket is pursuing $400 million in additional funding at a $15 billion valuation, Bloomberg reported Monday. The move comes after the prediction market startup secured $600 million last month at the same valuation.

The company's value has increased from $9 billion last year, when Intercontinental Exchange Inc., the parent company of the New York Stock Exchange, acquired a $1 billion stake in Polymarket. The current valuation remains below the $22 billion that rival Kalshi Inc. achieved in a recent $1 billion fundraising round.

ICE's latest investment followed its announcement last year of plans to invest up to $2 billion in Polymarket. The exchange group now holds a stake of approximately $1.6 billion and stated last month that it has completed its obligations under the investment plan.

Polymarket is evaluating whether to raise the $400 million from new investors at the current $15 billion valuation, which includes the new capital, or delay the fundraising to pursue a higher valuation, the report added.

Prediction market exchanges have seen increased trading activity on financial contracts linked to outcomes of sports games, elections and other events. In March, notional trading volume on Polymarket reached $10.6 billion, representing six times the volume from six months earlier, according to user-compiled data on Dune Analytics.

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