Leading prediction market operator Polymarket is allegedly looking to raise fresh capital at a valuation of $20 billion, a substantial increase from the company’s spring $15 billion valuation.
Polymarket Is Allegedly Eyeing a New $20B Valuation
The news comes from sources close to Bloomberg and follows a previous funding round in April, which saw the company seek an additional $1 billion. The Intercontinental Exchange, the owner of the New York Stock Exchange, invested $600 million in Polymarket, while the other $400 million was supplied by hedge fund D.E. Shaw and venture capital firm G Squared.
However, just four months later, the company is looking at a $20 billion valuation, a sum that has gone up significantly, despite Polymarket being banned in many European countries over the past month. According to Bloomberg’s sources, Polymarket’s annualized revenue tripled to $1.2 billion, likely driving up confidence in the company, despite potentially losing ground in the European market.
If the prediction market operator raises capital at its desired valuation, it would climb eight spots on CBInsights’ rankings of the most valuable unicorns list, tying with Chobani and Perplexity. At that valuation, Polymarket would be worth more than every US-listed sportsbook operator and every publicly traded US casino company except Las Vegas Sands.
Investor Confidence in Polymarket Remains High
Despite legal and regulatory disputes across the industry over sports event contracts, prediction markets continue to attract professional and venture investors betting on the long-term potential of the model. According to Jefferies analyst Daniel Fannon, average daily volume across US prediction markets reached $1.91 billion last month.
Major sports events, such as the 2026 FIFA World Cup, contributed a lot to the recent growth of prediction markets. For example, Polymarket’s main competitor in the field, Kalshi, reported that more than 3 million new users started using its services during the soccer championship.
Back to Polymarket, the reported fundraising underscores that investor enthusiasm. It’s especially notable given that the company only recently began a phased rollout of its prediction market in the US. Among investors, the prevailing view appears to be that prediction market operators such as Polymarket will gradually become less dependent on sports derivatives over the long term. Other categories and institutional applications, such as hedging and access to complex markets, are gaining traction and will provide a space for prediction market products.
In other news about Polymarket, it is being sued by a South Carolina lawyer, who claims the company is offering illegal gambling products in the state.
Leading prediction market operator Polymarket is allegedly looking to raise fresh capital at a valuation of $20 billion, a substantial increase from the company’s spring $15 billion valuation. Polymarket Is Allegedly Eyeing a New $20B Valuation The news comes from sources close to Bloomberg and follows a previous funding round in April, which saw the