Polymarket Nears $200M Funding, Set to Hit $1 Billion Valuation

Polymarket, a blockchain-based platform for betting on real-world events, is nearly raising $200 million in new funding. This investment would bring the company’s total value to $1 billion, marking a major milestone in its growth. According to a recent report, the deal is nearly finalized, marking a strong return of interest in decentralized prediction markets. Predictions Platform Sees Renewed Users’ Interest The new round of funding comes when the market for prediction platforms is regaining attention. Last year’s U.S. presidential election between Donald Trump and Kamala Harris brought a lot of excitement to Polymarket . Reportedly, millions of users placed bets on who would win. Just one day before the November 4, 2024, election, more than $3 billion was traded on the Trump vs. Harris market alone. After the election, activity on the platform dropped, with fewer users and lower trading volumes in early 2025. Now, that trend is changing. Since March, Polymarket has seen three straight months of growth in trading volume. Volume grew by 21% between March and April; from April to May, it grew another 17%. Polymarket’s trading volume reached over $1 billion in May, its best month since January. By the end of May, the platform had processed $13.89 billion in trades. Polymarket’s Funding History and Future Plans This new $200 million deal adds to Polymarket’s earlier funding rounds. In May 2024, the company raised $45 million through a Series B round. Before that, it had quietly raised $25 million in a Series A round led by the venture capital firm General Catalyst. Last year, Polymarket also considered raising another $50 million and was working on launching its own token , which users could use to settle their bets on the platform. If this new deal goes through, Polymarket will have raised far more than one of its main competitors, Kalshi. Kalshi raised $30 million in a Series A round in 2021 and several short-term loans from investors. Compared to that, Polymarket’s total funding would place it in a much stronger financial position within the prediction market space. Polymarket Thrives Abroad After U.S. Regulatory Setback Polymarket allows users to predict many events, from politics and sports to economics and global news. The platform runs on blockchain technology, which means all trades are secure, transparent, and peer-to-peer. However, Polymarket has had some trouble with U.S. regulators . In 2022, the Commodity Futures Trading Commission (CFTC) fined the company $1.4 million, forcing Polymarket to shut down some of its services in the U.S. Now, most of its trading volume comes from users outside the country. Meanwhile, Thailand’s cybercrime investigation bureau is also looking to ban Polymarket, citing online gambling concerns. The post Polymarket Nears $200M Funding, Set to Hit $1 Billion Valuation appeared first on TheCoinrise.com .

Source: The Coin Rise