Polymarket Targets $10B Valuation Amid Plans for US Relaunch

Blockchain prediction market Polymarket is preparing a return to the United States as it eyes a potential $10 billion valuation, according to a Friday report by Business ￰1￱ Takeaways: Polymarket is planning a ￰2￱ and seeking a valuation of up to $10 ￰3￱ platform gained traction after accurately predicting Trump’s 2024 victory but faced regulatory ￰4￱ CFTC clearance and rising competition from Kalshi, Polymarket is re-entering a heated prediction market ￰5￱ company is reportedly in discussions to raise new capital that could more than triple its last known valuation of $1 billion in ￰6￱ allows users to trade outcomes of real-world events without relying on a centralized ￰7￱ Gained Spotlight After Correctly Predicting Trump’s 2024 Victory Polymarket rose to prominence during the 2024 ￰8￱ election, where its markets accurately predicted Donald Trump’s victory, boosting its reputation and user ￰9￱ June, the firm was raising $200 million in a round led by Peter Thiel’s Founders ￰10￱ its growth was previously limited by regulatory ￰11￱ 2022, Polymarket was forced to exit the US following a settlement with the Commodity Futures Trading Commission (CFTC).

That changed in July when Polymarket acquired Florida-based derivatives exchange ￰12￱ month, QCX received a no-action letter from the CFTC, offering relief from certain regulatory ￰13￱ CEO Shayne Coplan said the letter effectively “gives the platform the green light to go live in the USA.” . @Polymarket is in talks about a new round of funding and is preparing to return to the ￰14￱ company's valuation could rise from $1B to $10B. ￰0￱ ￰15￱ — ICO Drops (@ICODrops) September 13, 2025 The move signals a new chapter in the increasingly competitive prediction market ￰16￱ platform Kalshi is also making headlines, reportedly closing in on a $5 billion funding round after securing $185 million earlier this year in a Paradigm-led raise.

Kalshi’s momentum accelerated after a 2024 court decision allowed it to offer political-event contracts, a ruling the CFTC initially contested but later ￰17￱ decision left Kalshi free to operate within the existing framework, giving it a regulatory ￰18￱ both platforms have seen user activity decline since the 2024 election cycle, interest appears to be picking ￰19￱ kickoff of the NFL season has reignited market engagement, with Kalshi processing $441 million in trading volume since Week ￰20￱ Sues Nevada and New Jersey Over Sports Contract Ban In March, Kalshi filed a lawsuit against the Nevada Gaming Control Board and the New Jersey Division of Gaming Enforcement, challenging recent cease-and-desist orders that forced the firm to suspend its sports-related contracts in both ￰21￱ argues that its contracts fall under the regulatory domain of the ￰22￱ Futures Trading Commission (CFTC), not state-level gaming ￰23￱ company maintains that its event contracts function as two-sided swap markets, unlike traditional sports betting models where the house sets and controls the odds.

“Prediction markets are a critical innovation of the 21st century, and like all innovations, they are initially misunderstood,” said Kalshi co-founder Tarek Mansour. “We are proud to be the company that has pioneered this technology and stand ready to defend it once again in a court of law.” The legal dispute also comes on the heels of additional regulatory pressure from Nevada, where officials issued a cease-and-desist order over Kalshi’s election-based contracts. Recently, the CFTC announced that it is reviewing Super Bowl-related prediction contracts offered by ￰24￱ and Kalshi ￰25￱ determine if they comply with federal derivatives laws.