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Polymarket on the Verge of Raising $200M at $1B Valuation: Report
Peter Thiel’s Founders Fund leads the round, and the $200 million includes $50 million in previously unannounced funding.
Jun 24, 2025, 2:06 p.m.
What to know:
- Polymarket is nearing a $200 million funding round led by Founders Fund, valuing the platform at $1 billion, including $50 million in previously unannounced funding.
- The blockchain prediction market saw record traffic in May (15.9 million visits), surpassing FanDuel, DraftKings, and Betfair, with $8 billion in bets during the U.S. election cycle.
- Polymarket recently partnered with Elon Musk’s xAI as its official prediction market and is reportedly exploring a token launch.
Blockchain-based prediction market Polymarket is edging closer to a $200 million raise at a $1 billion valuation, The Information reported, citing people familiar with the plan.
Peter Thiel’s Founders Fund is said to be leading the round, the report added. The $200 million figure includes $50 million that was raised in previously unannounced funding.
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According to SimilarWeb, Polymarket notched a record high in terms of website traffic in May with 15.9 million visits, more than rival betting markets FanDuel, DraftKings and Betfair.
Polymarket's continued rise comes after a U.S. election year that saw around $8 billion worth of bets placed on the platform. It was also widely cited during the election as a data source for predicting the outcome. According to a Dune data scientist, betting markets on Polymarket predict outcomes with up to 94% accuracy.
Earlier this month, Polymarket signed a deal with Elon Musk's xAI company, becoming the official prediction market partner for xAI and X.
Last September, a separate report by The Information claimed that Polymarket was looking into launching its own token.
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