Polymarket set for $200M raise at $1B valuation: Reports

Blockchain prediction market platform Polymarket is finalizing a $200 million funding round that would value the company at approximately $1 billion, according to reports.

Billionaire entrepreneur Peter Thiel’s Founders Fund is set to lead Polymarket’s funding round, Reuters and Bloomberg reported on Tuesday, citing people familiar with the matter.

The $1 billion valuation would give the company “unicorn” status despite it being banned for American users. The FBI even executed a search warrant on the platform in November, seizing founder Shayne Coplan’s electronics over concerns that Polymarket was potentially giving access to Americans.

Polymarket had previously raised over $100 million, including an undisclosed $50 million investment earlier in 2025, the reports added

The latest funding round comes after the prediction platform announced a partnership with Elon Musk’s social media platform X in early June. The two companies aim to combine Polymarket’s prediction markets with analysis from the artificial intelligence chatbot Grok.

Polymarket allows betting on everything

The platform experienced explosive growth during the 2024 US presidential election, with trading volume topping $2.5 billion in November as bettors used cryptocurrency to wager on election outcomes and a host of other events.

The platform allows bets on a wide range of scenarios, such as whether Israel will again strike Iran, the likelihood of a US recession in 2025, odds on a Russia-Ukraine ceasefire in July, Federal Reserve rate decisions, and the outcome of the New York City mayoral primary

Related: Polymarket gives US stablecoin bill 89% chance of becoming law

The platform also shows an 87% chance that the stablecoin bill, the GENIUS Act, will be signed into law this year.

Over $1B in monthly volume

The global prediction market currently has around 1.2 million traders, 21,000 open markets, 20 million open positions and $700 million in trading volume, according to the Polymarket analytics platform

According to Dune Analytics, Polymarket’s monthly trading volume for May was around $1.1 billion, down 56% from its November peak of around $2.5 billion.

Polymarket monthly volume dips after US elections. Source: Dune Analytics## Polymarket blockades and backlash

In addition to the US blockade, Polymarket has also been banned or restricted in France, Singapore, Thailand, Taiwan, Poland and Belgium

The platform has also faced backlash and scrutiny over allegations of prediction market outcome manipulation

Polymarket competes with other prediction platforms, including Kalshi, which is backed by Y Combinator and Sequoia Capital

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