Polymarket, a leading blockchain-based prediction platform, is reportedly in talks to raise $200 million in new funding, which could value the company at over $1 billion, according to The Information. The deal, if completed, would mark a major milestone for crypto-native markets in 2024.
Polymarket Seeks Unicorn Status with Fresh Funding
According to The Information, Polymarket is close to finalizing a $200 million fundraising round that would value the company at more than $1 billion. The round has not yet been officially confirmed by the company or its backers, but negotiations are said to be advanced.
This comes just weeks after, the decentralized platform announced it had raised $70 million in May 2024 across two separate rounds—a $25 million Series A led by General Catalyst and a $45 million Series B led by Founders Fund. Notably, investors like Vitalik Buterin, Joe Gebbia, and Polychain Capital were part of those earlier rounds, showcasing strong institutional and strategic interest.
The platform has gained prominence in recent months by allowing users to wager on real-world outcomes ranging from U.S. politics to global conflicts—driving attention to on-chain prediction markets as a high-utility crypto use case.
Rise of Polymarket and Prediction Markets
Prediction markets are gaining momentum in both Web2 and Web3 ecosystems. Platforms like Kalshi, a CFTC-regulated U.S. event trading exchange, are pushing real-world outcome markets further into the mainstream. This aligns with Polymarket’s traction, especially amid rising user interest in geopolitics, elections, and macro-finance predictions.
Earlier, as reported by coingape, Polymarket inked a partnership with Elon Musk’s X platform thus highlighting that crypto projects can scale even without token launches.
The fresh $200 million funding round positions Polymarket among the few unicorn-status crypto infrastructure firms in the current cycle. It also signals that Web3 applications tied to real-world data and forecasting are attracting serious institutional capital—even amid cautious macro conditions.
