Synopsis
Prediction markets platform Polymarket is reportedly in talks to raise $400 million in funding at a $15 billion valuation. This potential investment follows a $600 million commitment from Intercontinental Exchange, the NYSE's parent company. Polymarket aims to attract further strategic investors, potentially bringing the total round to $1 billion as event-based trading gains significant traction.Listen to this article in summarized format
Reuters could not immediately verify the report. Polymarket did not immediately respond to a Reuters' request for comment.
The report on new funding comes after a $600 million investment from New York Stock Exchange parent Intercontinental Exchange announced last month.
The funding was part of the exchange operator's previously announced plan to invest up to $2 billion in Polymarket to expand into the fast-growing event-based trading segment.
According to The Information report, the new financing would add to the $600 million already invested in the funding round by Intercontinental Exchange.
Polymarket is looking to add additional strategic investors beyond Intercontinental Exchange to the round, which could total $1 billion, the report said.
Investors have been looking to expand into the event-based trading segment as prediction markets increasingly shift from a niche corner of crypto and academic finance into a rapidly growing segment, with volumes and user activity surging.
