Chain News Today TheBitTimes.com

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...

1. Polymarket Accurately Predicts the 2024 U.S. Election Outcome In the 2024 U.S. presidential election, the decentralized prediction market platform Polymarket once again demonstrated its remarkable foresight, successfully predicting the final outcome through the collective intelligence of market participants. Even before Election Day, market contracts on Polymarket supporting a Trump victory saw a significant increase in trading volume, with predicted probabilities reaching as high as 75%, far surpassing the results of traditional polling agencies. Polymarket’s co-founder stated that this success not only highlights the potential of prediction markets but also provides the public with a more transparent and dynamic reference for public opinion trends. With the gradual development of regulatory frameworks, prediction markets are expected to become an important tool for global decision-making support, offering forward-looking data insights across various fields. 2. Ethena Launches a Ne...