Bloomberg: Polymarket Seeks New Funding at Valuation Up to $15 Billion

• Polymarket is negotiating a new round with investors.
• The expected valuation is between $12 billion and $15 billion.
• In July, Polymarket’s capitalization was about $1 billion.

The betting platform Polymarket is discussing a new round of funding with investors. Bloomberg reports this, citing sources familiar with the matter.

According to them, the startup’s valuation may range from $12 billion to $15 billion. This is more than 10 times higher than during the previous round four months ago, the statement said.

The journalists noted that in June, Founders Fund invested $200 million in Polymarket, which gave the company a valuation of about $1 billion. In early October, Intercontinental Exchange (ICE) announced its intention to invest up to $2 billion in the startup at a valuation of about $8-$10 billion

Bloomberg added that the company’s main competitor, Kalshi, is also considering offers from investors. According to the sources, Kalshi’s current valuation exceeds $10 billion, which is twice as high as the round held a few weeks ago.

Earlier, Polymarket co-founder Shane Coplan hinted at the upcoming issue of the POLY token. We also reported that Kalshi and Polymarket became official partners of the NHL.