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Polymarket targets $20B valuation in raise
Blockchain-based prediction platform Polymarket is reportedly seeking a new funding round that would value the company at around $20 billion, following an April raise that priced the firm at $15 billion. The April round included a $600 million investment from Intercontinental Exchange. Polymarket recently told CNBC its annualized revenue surpassed $1 billion, helped by strong activity during the World Cup despite earlier trading-volume softness. Founder and CEO Shayne Coplan frames Polymarket as an information marketplace and future “almanac,” while competition intensifies as Coinbase, Robinhood and regulated rival Kalshi expand their own prediction-market offerings.
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