Polymarket Nears $200M Funding Round, Valuation to Hit $1B

Polymarket is closing in on a $200 million funding round that WOULD push its valuation beyond $1 billion, according to a report from The Information. The capital infusion aims to fuel the platform's expansion and regulatory compliance efforts as its influence in global prediction markets grows.

The company previously secured $70 million across two rounds in May 2024—a $25 million Series A led by General Catalyst with participation from Airbnb co-founder Joe Gebbia and Polychain, followed by a $45 million Series B spearheaded by Founders Fund and backed by ethereum co-founder Vitalik Buterin. These builds on its 2020 $4 million seed round.

Polymarket gained significant traction during the 2024 U.S. presidential election cycle, with its prediction markets attracting heightened attention for political outcome speculation.