Prediction Market’s Polymarket is in early talks with investors to raise funds at a valuation of $12 billion to $15 billion, potentially marking a 10-fold inflow from four months ago, Bloomberg reported on Thursday, citing people familiar with the matter.
This following a $200 million round in June, led by founder Peter Thiel’s fund, which The startup is valued at $1 billion. Earlier this month, the Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, announced Plan to invest up to $ 2 billion to Polymarket at a $8 billion valuation.
Polymarket’s main rival, Kalshi, is also reportedly in talks for the new fund that wants to Value It is more than $ 10 billion, more than double its value from weeks ago when it Raised $ 300 million at a $5 billion valuation.
Cointelegraph reached out to Polymarket for comment, but did not receive a response by publication.
Related: Nobel Peace Prize Bets on Polymarket Under Test: Report
Polymarket Partners with DraftKings, NHL
Polymarket is expanding its partnerships. CEO Shayne Coplan recently announced to be used by draftkings The platform as a clearinghouse for its entry into the prediction markets.
The National Hockey League (NHL) has signed Multiyear agreements with Polymarket and Kalshi, naming both as official prediction market partners.
On Wednesday, Openai CEO Sam Altman’s Digital Identity Project, World (formerly known as WorldCoin), announced that it expanding into prediction markets by incorporating polymarket. World app, a mobile application that combines a digital wallet with the world decentralized identity The Tool, World ID, is integrated with the Polymarket app.
Related: Polymarket founder Shayne Coplan defies the odds
The prediction markets are seeing record weekly trading volume
Global interest in prediction markets reached new levels, with weekly trading volume exceeding $2 billion for the first time in mid-October, according with data from Dunedata via Dune Analytics.
During the week, Polymarket saw more than $1 billion in trading volume, capturing 52.3% of total market activity. Meanwhile, rival Kalshi accounted for nearly $950 million, or 47% of the total.
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