Forecast website Polymarket It is reportedly in discussions to raise $400 million in new financing.
The round will give the company a valuation of about $15 billion, including new funds, The Information says I mentioned Sunday (April 19), citing sources familiar with the matter.
According to the report, this funding will add to 600 million dollars Already invested in the company before New York Stock Exchange Parents Exchange between continents.
The report notes that a valuation of $15 billion would still be below par 22 billion dollars It was arrived last month by competitor prediction market Kalshi. However, the new valuation will still be 66% higher than the previous valuation 9 billion dollars The company achieved it in a funding round last year.
The report also hypothesizes a reason for the difference in valuations: Polymarket only recently began serving US clients and charging fees to increase revenues, while Kalshi had a head start in the US, with annual revenues of $1.5 billion.
PolyMarket, unlike Calci, settles trades on the blockchain and has discussed its issuance Special codeThe report added. The company is also planning an initial public offering, sources familiar with its thinking told The Information.
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The financing plans follow the increasing popularity of prediction markets, which allow users to buy event contracts — derivatives that pay investors who correctly predict the outcomes of things like sporting events or elections.
A recent report from Wall Street brokerage Bernstein predicts that market volumes will predict this Up to $1 trillion By 2030. This will happen as the industry shifts from niche betting to a larger “information marketplace” covering sports, cryptocurrencies, politics and economics, the report said.
The report added that volumes reached $51 billion last year and are on track to reach about $240 billion this year, which means a compound annual growth of approximately 80% over the rest of the decade. Activity has already accelerated so far this year, with Polymarket and Kalshi seeing combined year-to-date volumes of $60 billion.
“increase Regulatory clarity “At the federal level it expands the addressable market, while blockchain-based tokenization and integration with cryptocurrency markets enables global liquidity, long-tail event creation and participation from institutions,” the analysis said.
However, prediction markets have become a flash point Between federal and state regulators, PYMNTS wrote last year.
“While real money prediction markets technically fall under the jurisdiction of the CFTC, an increasing number of countries have sought to shut down markets they consider to be unlicensed or illegal gambling operations,” that report said.
