Polymarket eyes $15 billion valuation as prediction market mania grips wall street

Polymarket is talking with potential investors about raising money that would put the prediction market company’s worth somewhere between $12 billion and $15 billion, sources close to the discussions ￰0￱ figure marks a dramatic jump from just four months back when the company was worth far ￰1￱ company’s value has climbed fast this ￰2￱ in June, Polymarket secured $200 million from investors led by Peter Thiel’s Founders ￰3￱ that time, the startup was valued at $1 ￰4￱ earlier this month, Intercontinental Exchange Inc., which runs the New York Stock Exchange, announced plans to put up to $2 billion into ￰5￱ deal priced the company at around $8 billion before counting the new money coming ￰6￱ transaction also made Shayne Coplan, Polymarket’s chief executive, the youngest person to become a billionaire through building their own ￰7￱ valuation race heats up Meanwhile, Kalshi, which competes directly with Polymarket, is getting offers from investors who want in at valuations above $10 ￰8￱ to Bloomberg, that would be more than twice what the company was worth in a funding deal announced just weeks ￰9￱ rapid rise in these valuations shows how much excitement there is around this young industry where betting and finance are coming ￰10￱ Polymarket and Kalshi have seen betting activity jump recently as reported by ￰11￱ the week that ended October 19, total trading hit more than $2 billion across both ￰12￱ beat the earlier record set during last year’s presidential ￰13￱ Street giants rush to partner with prediction markets Big financial firms and gambling companies are paying attention.

They’re making deals with these prediction market leaders, betting the newcomers might reshape their ￰14￱ Wednesday, Coplan said Polymarket would serve as a clearinghouse for DraftKings ￰15￱ that company enters prediction ￰16￱ same day, the National Hockey League announced multi-year agreements with both Kalshi and Polymarket , making it the first big American sports league to partner with these platforms. Still, prediction markets face unclear rules ￰17￱ federal regulators have let Kalshi open new markets, state gambling officials have fought back in ￰18￱ about market manipulation and insider trading also remain ￰19￱ seen where it ￰20￱ in Cryptopolitan Research and reach crypto’s sharpest investors and builders.