Blockchain-based prediction platform Polymarket is reportedly finalizing a new $200 million funding round that would push its valuation to approximately $1 billion—earning the company coveted unicorn status. The round is expected to be led by Peter Thiel’s Founders Fund, according to sources cited by Reuters and Bloomberg.
The fundraising push comes despite legal and regulatory headwinds. Polymarket remains banned in the U.S. and several other jurisdictions. In late 2023, the FBI executed a search warrant on founder Shayne Coplan after reports indicated that U.S. users may have accessed the platform, despite restrictions.
To date, Polymarket has raised over $100 million, including a $50 million round earlier this year. The company recently made headlines by announcing a partnership with Elon Musk’s social media platform X to integrate its forecasting markets with Grok, X’s native AI chatbot.
Platform Gains Traction With Global Betting Markets
Polymarket has seen explosive growth tied to high-stakes global events, particularly during the 2024 U.S. election cycle. In November, the platform recorded over $2.5 billion in trading volume—its highest monthly figure to date.
Using crypto for transactions, Polymarket users can place bets on real-world outcomes ranging from geopolitical flashpoints—like potential strikes between Israel and Iran—to U.S. economic policy shifts, such as whether the Federal Reserve will cut interest rates. Political races and congressional legislation odds are also popular categories.
With a sleek interface and blockchain-enabled transparency, the platform has positioned itself as a decentralized hub for crowd-sourced forecasting—blending financial speculation with information markets.
Volume Grows Despite Global Restrictions
Despite being blocked or restricted in regions like France, Singapore, Thailand, and Belgium, Polymarket has maintained a strong user base. Analytics data shows the platform processed $1.1 billion in volume during May 2025, down from peak levels but still impressive given its legal limitations.
Currently, the platform boasts over 1.2 million users and 21,000 active markets. Regulatory concerns—especially regarding market manipulation—continue to cast a shadow, though no formal charges have been brought against the company or its executives.
Competitors such as Kalshi, which counts Y Combinator and Sequoia Capital among its backers, are also vying to lead the burgeoning on-chain prediction industry. But with deep-pocketed investors and high-profile partnerships, Polymarket appears well-positioned for a global push—pending regulatory navigation.
Quick Facts
- Polymarket is close to raising $200 million in a round led by Founders Fund, boosting its valuation to $1 billion.
- Despite being banned in the U.S. and several countries, Polymarket processed $1.1 billion in trading volume in May.
- The platform has over 1.2 million users and 21,000 active markets, covering everything from politics to monetary policy.
- A recent partnership with X (formerly Twitter) aims to integrate Polymarket predictions into Grok, X’s AI chatbot.
