Prediction Market Polymarket is in early 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 mark a more than 10x 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 more than $8 billion in bets were placed on the platform. Research conducted by Dune earlier this year suggested that Polymarket predicted real-world events with more than 90% accuracy.
Along with rival Kalshi, Polymarket this week signed multi-year licensing agreements with the National Hockey League (NHL), which became the first professional sports league to allow the use of its trademarks in markets outside the sports betting industry.
Kalshi raised $300 million at a valuation of $5 billion earlier this month. It is now in talks to make more investments that would value it at more than $10 billion, according to the Bloomberg report.
Neither company immediately responded to CoinDesk’s request for comment.
