Polymarket seeks $400M at $15B valuation after ICE backing
6.6 Investments Polymarket is in talks to raise $400M at a $15B valuation after a $600M investment from ICE, driven by surging trading volumes and institutional interest.
Polymarket, a decentralized prediction market platform, is reportedly in talks to raise $400 million in new funding at a $15 billion valuation. This follows a recent $600 million investment from Intercontinental Exchange (ICE), potentially bringing total new financing close to $1 billion if the round is completed. The company’s valuation has surged, driven by rising user demand for predictions on real-world assets, political events, and other outcomes. Monthly trading volumes have exceeded $10 billion, and daily revenue has reached $1 million after a recent fee structure update. Polymarket is also seeking additional strategic investors beyond ICE. The platform’s expansion and growing institutional interest have attracted attention from both the crypto industry and traditional finance, as it faces regulatory challenges and competition from rivals like Kalshi.
