Polymarket, the blockchain-based prediction market platform, is reportedly considering a funding round that would value the company between $9-10 billion, according to multiple reports from The Information and Business Insider. This represents a staggering increase from its $1 billion valuation just three months ago in June 2025, when it raised funds in a round led by Peter Thiel's Founders Fund.
The dramatic valuation surge comes as regulatory barriers have eased significantly. In 2021, the Commodity Futures Trading Commission (CFTC) barred Polymarket from offering prediction contracts in the U.S., but earlier this year the agency granted the platform approval to operate domestically. This regulatory shift was further cemented in September when the CFTC issued a no-action letter to QCX, a Florida-based derivatives exchange acquired by Polymarket in July, effectively giving the platform "the green light to go live in the USA," according to CEO Shayne Coplan.
Polymarket has demonstrated substantial market traction, processing over $8 billion in wagers during the last U.S. election cycle alone, putting it ahead of sports betting giants FanDuel, DraftKings and Betfair in terms of online traffic. The platform gained particular prominence during the 2024 US presidential election, where its markets correctly anticipated Donald Trump's victory.
The company has attracted politically connected backers, including Donald Trump Jr.'s venture capital firm, 1789 Capital, which invested tens of millions of dollars with Trump Jr. joining as an advisor. Meanwhile, competitor Kalshi has also seen its valuation rise to $5 billion from $2 billion earlier this year, indicating broader investor confidence in regulated prediction markets.