Peter Thiel’s Founders Fund makes a $45M bet on crypto-prediction markets
Founders Fund, the San Francisco-based venture capital firm led by Peter Thiel, is said to have led a $45M investment round into Polymarket.
The self-proclaimed “world’s largest prediction market” lets users bet on all kinds of real-world events ranging from US election outcomes to the number of times Roaring Kitty will tweet this week.
The currency of choice: the stablecoin USDC.
With over $170M wagered on US elections alone, Polymarket’s grown into a real player in the so-called event contracts space.
That said, the future isn’t entirely clear for the space as a whole. Just last week, the Commodity Futures Trading Commission voted to propose rules that’d ban certain types of event contracts.
The currency of choice: the stablecoin USDC.
With over $170M wagered on US elections alone, Polymarket’s grown into a real player in the so-called event contracts space.
That said, the future isn’t entirely clear for the space as a whole. Just last week, the Commodity Futures Trading Commission voted to propose rules that’d ban certain types of event contracts.
