Polymarket Eyes Funding At $10B Valuation, US Relaunch, As Kalshi Nears Fundraising At $5B
Polymarket is weighing new financing at a valuation as high as $10 billion alongside plans for a relaunch in the US, while competitor Kalshi is nearing a $5 billion fundraising. According to a report by Business Insider that cited sources familiar with the matter, Polymarket has considered one offer that would value the company at $9 billion, and another that “offered a term sheet valuing Polymarket as high as $10 billion.” That would be a huge jump in valuation for the company, which raised funding at a $1 billion valuation early in the summer, the article said. Polymarket raised $200 million in June, led by Peter Thiel’s Founders Fund, the venture firm that was an early backer of projects such as OpenAI, Paxos and Palantir. Polymarket Looks To Re-Enter The US Market Polymarket is a decentralized platform that lets users trade event outcomes without a centralized bookmaker. It gained prominence during the 2024 US presidential election, where its market acc...