Polymarket, the exchange of online bets where users bet on the results of the real world, has weighed an agreement that would assess the company at $ 9 billion, according to the information.
The number marks a rise in its valuation of $ 1 billion only three months ago, when it raised funds in a round led by the Fund of Founders of Peter Thiel.
The increase occurs when regulators loosen restrictions. In 2021, the Basic Products Trade Commission prevented PolyMmerce Polymket from offering prediction contracts in the United States, but earlier this year, the agency gave the platform the green light to operate at the national level, opening the door to a new growth.
Polymarket allows users to make bets in political elections, judicial decisions and geopolitical events. Only during the last electoral cycle of the United States, the site prosecuted more than $ 8 billion in bets. That puts it ahead of Fanduel, Draftkings and Betfair sports betting giants in terms of online traffic.
The Kalshi competitor has also seen its valuation increase. The company, which offers similar real money events, is now valued at $ 5 billion, compared to $ 2 billion earlier this year, according to the same report. The jump suggests that investors are betting on regulated prediction markets could become the main current.
Polymarket has also attracted politically connected sponsors. Donald Trump Jr.’s risk capital firm, 1789 Capital, invested in the company in an agreement worth dozens of millions of dollars, with Trump Jr. joining as an advisor.
Prediction markets such as Polymeket are still controversial in Washington, where critics argue that they run the risk of feeding erroneous information. However, supporters say they provide a transparent meter of public expectations on political and global events.
