Polymarket Seeks $12–15B Valuation After $8B Election Bets

Polymarket is in discussions to raise capital at a $12–$15 billion valuation, a tenfold increase from its $1 billion June valuation after a $200 million round led by Founders Fund. The prediction-market leader handled over $8 billion in US election bets with 90% reported accuracy. Intercontinental Exchange also agreed to invest up to $2 billion at an $8 billion valuation, while rival Kalshi seeks over $10 billion following its $300 million round at a $5 billion valuation. Polymarket has expanded through a clearinghouse partnership with DraftKings, multiyear NHL licensing deals—making it the first professional sports league to permit its trademarks for non-bookmaker markets—and integration with OpenAI’s World App. Weekly trading volume in prediction markets topped $2 billion in mid-October, with Polymarket capturing a 52.3% share. These developments underscore growing investor confidence in Polymarket valuation and market liquidity in event-prediction platforms, offering bullish prospects for traders monitoring funding trends and platform adoption.