Polymarket on the verge of $200 million fundraise for $1 billion valuation
Polymarket, a platform where users use crypto to bet on real-world outcomes, is about to raise $200 million in a funding round, giving it a $1 billion valuation, according to The Information.
Peter Thiel’s Founders Fund, which led Polymarket’s $45 million series B funding round last year, is leading the newest fundraising event, and the platform is also planning to come back to the US, the report stated.
The platform has banned US-based customers since 2022 after a settlement with the CFTC. The agency alleged Polymarket was “operating an illegal unregistered or non-designated facility for event-based binary options online trading contracts,” and ordered Polymarket to pay a $1.4 million penalty.
The crypto-based prediction market gained popularity during the 2024 US presidential election. Currently, activity on the platform is focused on the F1 Drivers’ Championship and the New York City Democratic mayoral primary, with each seeing over $42 million in volume.
The upcoming capital raise comes about three weeks after the prediction platform announced its partnership with Elon Musk’s social network, X, to create a joint product that provides data-driven insights to Polymarket users.
Polymarket’s cumulative volume is nearing $14.8 billion, of which more than 38% was generated in 2025, data from The Block shows. Its all-time high in monthly volume came last November, when the figure reached over $2.6 billion. Roughly 174,510 users have placed bets on Polymarket this month so far, the lowest number since September.
The Information previously reported that Polymarket may launch its own token.
The platform has banned US-based customers since 2022 after a settlement with the CFTC. The agency alleged Polymarket was “operating an illegal unregistered or non-designated facility for event-based binary options online trading contracts,” and ordered Polymarket to pay a $1.4 million penalty.
The crypto-based prediction market gained popularity during the 2024 US presidential election. Currently, activity on the platform is focused on the F1 Drivers’ Championship and the New York City Democratic mayoral primary, with each seeing over $42 million in volume.
The upcoming capital raise comes about three weeks after the prediction platform announced its partnership with Elon Musk’s social network, X, to create a joint product that provides data-driven insights to Polymarket users.
Polymarket’s cumulative volume is nearing $14.8 billion, of which more than 38% was generated in 2025, data from The Block shows. Its all-time high in monthly volume came last November, when the figure reached over $2.6 billion. Roughly 174,510 users have placed bets on Polymarket this month so far, the lowest number since September.
The Information previously reported that Polymarket may launch its own token.
