Polymarket, a blockchain-based prediction market platform, is reportedly finalizing a $200 million funding round that would value the company at approximately $1 billion, granting it 'unicorn' status. The round is expected to be led by billionaire Peter Thiel’s Founders Fund, according to multiple reports citing insiders.
The $200 million figure includes $50 million raised earlier in 2025, with Polymarket having raised over $100 million in total to date. The platform saw explosive growth during the 2024 US presidential election, with trading volumes peaking at around $2.5 billion in November 2024. Currently, monthly trading volumes remain strong around $1.1 billion, supported by a global user base of roughly 1.2 million traders and 21,000 active markets.
Despite its growth, Polymarket has faced regulatory challenges, including a ban on US users and an FBI search in November 2024 due to concerns about access to Americans. Additionally, the platform is restricted in multiple countries, including France, Singapore, and Belgium, and has encountered scrutiny over alleged market manipulation.
Polymarket recently announced a strategic partnership with Elon Musk’s social media platform X and its AI arm xAI, aiming to integrate Polymarket’s prediction markets with AI analysis through Musk’s chatbot Grok. The collaboration seeks to enhance market insights by combining predictive betting data with artificial intelligence.
The platform offers markets spanning geopolitical events, economic outcomes, and social developments, such as potential Israel-Iran conflict scenarios, US recession chances, and Federal Reserve rate decisions. Notably, it estimates an 87% chance for stablecoin legislation (the GENIUS Act) to become law in 2025.