Prediction Market Polymarket Eyes $400 Million Round at $15 Billion Valuation
Polymarket eyes $400M raise at a $15B valuation, following ICE's $600M investment as prediction markets attract surging institutional demand.
Prediction Market Polymarket eyes a $400 million funding round at a $15 billion valuation, The Information reported Sunday, citing two people familiar with the matter.
The capital push follows a $600 million investment from Intercontinental Exchange, parent of the New York Stock Exchange, announced just last month.
The new round would nearly double Polymarket's $9 billion post-money valuation from October, while the platform simultaneously courts additional strategic investors beyond ICE.
Total funding across the round could ultimately reach $1 billion, with fresh backers expected to sign on before final close, per the report.
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Polymarket Valuation Surges as Kalshi Rivalry Tightens on Wall Street
Earlier October reports pegged early-stage investor discussions at valuations between $12 billion and $15 billion, with the current round landing firmly at the ceiling of that range.
The repricing arrives only six months after ICE agreed to invest up to $2 billion across the platform's cap table.
Investor appetite for event-based trading has pushed prediction markets rapidly out of their crypto and academic niche into a fast-growing mainstream finance segment.
Volumes and user activity across the sector have surged over recent months as Wall Street names chase fresh exposure to binary outcomes.
Rival Kalshi reportedly raised over $1 billion back in March at a $22 billion valuation, roughly doubling its worth since November.
Kalshi also leads monthly trading volume at $12.8 billion against Polymarket's $9.5 billion over the past 30 days, according to Token Terminal data.
Regulatory Pressure Mounts While Polymarket USD Launch Nears
Beyond the funding frenzy, the decentralized prediction industry continues facing heavy regulatory scrutiny across multiple jurisdictions worldwide.
Both Kalshi and Polymarket rolled out insider trading safeguards last month as U.S. lawmakers pushed for tighter sector rules, while Argentina banned Polymarket nationwide in March over alleged illegal gambling practices.
A Kalshi lawsuit filed in Oregon in February 2026 also brands the firm an "illegal online gambling enterprise" for operating without state authorization.
A separate legal action targets the firm over a paused $54 million Khamenei market, with traders alleging the platform withheld payouts during the Iran war.
Despite the mounting scrutiny, Polymarket recently shut down its prediction market on nuclear weapon detonation odds while pushing forward a broader product overhaul aimed at easing regulatory bottlenecks.
On April 6, Coingape reported that the platform unveiled Polymarket USD, a Circle USDC-backed settlement token powering every contract, with the rollout expected this week.