Polymarket’s $15 Billion Dream: From $1 Billion to Billionaire’s Playground

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Finance

What to know:

  • Polymarket is in early talks with investors for a new investment at a valuation of between $12 billion and $15 billion. 😲
  • This would mark a more than 10-fold increase from its humble $1 billion valuation in June, when it raised a mere $200 million, led by none other than Peter Thiel’s Founders Fund. 😏
  • Meanwhile, its rival Kalshi is also in talks for more investment, eyeing a valuation of over $10 billion, after raising $300 million at a mere $5 billion valuation earlier this month. 💰

Polymarket, that very same platform where people place bets on practically everything (yes, the one with the charmingly ludicrous predictions), is currently engaging in early talks with investors to raise an amount that will place its value somewhere between $12 billion and $15 billion, according to Bloomberg’s insiders. 💸

This new valuation would be more than a tenfold increase from its modest $1 billion valuation back in June-when it raised $200 million in a round led by Peter Thiel’s Founders Fund. One can only imagine Peter Thiel looking over his fortune, wondering if he could buy an island with his profits. 🏝️

Polymarket truly made a name for itself during the U.S. 2024 election campaign. In fact, more than $8 billion worth of bets were placed on the platform. And as for accuracy? Well, Dune Research reported earlier this year that Polymarket managed to predict real-world events with a staggering 90% accuracy. Talk about a modern-day Nostradamus. 🔮

But it doesn’t stop there-Polymarket, along with its rival Kalshi, just signed multiyear licensing deals with the National Hockey League (NHL). Yes, you read that right. The NHL has officially allowed these prediction markets to use its trademarks, making it the first professional sports league to step outside the sportsbook industry’s cozy little box. 🏒

Kalshi, meanwhile, is busy plotting its own rise. Just this month, it raised $300 million at a $5 billion valuation. But hold your horses! It’s already in talks for another round of funding, aiming to soar above the $10 billion mark. When it rains, it pours, right? ☔

As for comments from either firm, well, don’t hold your breath. Neither Polymarket nor Kalshi were available for comment when CoinDesk reached out. Guess they’re too busy making their billions. 💼

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2025-10-23 13:24