Blockchain-based prediction trading platform Polymarket is in early talks with investors to raise more Capital, with an expected valuation ranging from $12 billion to $15 billion, according to Bloomberg. This is XEM the latest step in the startup's meteoric growth since its founding in 2020.
Polymarket is known as a decentralized prediction exchange where users can bet “Yes” or “No” on the outcome of a variety of real-life events — from politics, sports, finance to culture. This model combines the transparency of blockchain with the appeal of prediction markets, allowing users to not only participate in investing but also express their views on global events.
In 2024, Polymarket became the center of attention of the investor world, especially after successfully raising $150 million in June from billionaire Peter Thiel's Founders Fund. At that time, the company was valued at about $1.2 billion. However, just a few months later, Polymarket's value skyrocketed to more than $9 billion after ICE — the parent company of the New York Stock Exchange (NYSE) — announced a $2 billion investment in the platform.
The deal not only boosted Polymarket’s position in the fintech space, but also made founder and CEO Shayne Coplan, born in 1998, one of the world’s youngest self-made billionaires. Coplan’s rise is XEM as a testament to the wave of strong innovation in the world of Web3 and decentralized finance (DeFi).
Meanwhile, Polymarket’s direct competitor, Kalshi, is also ramping up. According to Bloomberg, the platform — regulated by the U.S. Commodity Futures Trading Commission (CFTC) — is XEM investment offerings at a valuation of $10 billion to $12 billion, just two weeks after completing a $300 million Capital round at a $5 billion valuation. Both platforms have seen a surge in volume , reflecting the growing market demand for crypto-based predictions.
Experts say interest in prediction market platforms like Polymarket is growing, especially after the 2024 US presidential election, when Donald Trump returns to the White House. During the campaign, Polymarket became one of the most used tools for “betting” on individual state outcomes — at times volume exceeding $200 million in just a few days.
This event not only gives Polymarket momentum but also brings the concept of prediction markets closer to the American public and global investors. With the Trump administration’s upcoming policies being hot topics, from trade to currency, Polymarket will become the new center of crowd intelligence.
