Polymarket Nears $200 Million Fundraising at $1 Billion Valuation
Polymarket, a blockchain-based prediction market, is nearing a $200 million fundraising round at a $1 billion valuation. Key points include:
- Led by Peter Thiel’s Founders Fund.
- The total includes $50 million from previously undisclosed funding.
- In May, Polymarket achieved 15.9 million website visits, surpassing competitors like FanDuel and DraftKings.
- During the recent U.S. election year, $8 billion in bets were placed on the platform.
- Polymarket's betting markets show predictive accuracy of up to 94% for outcomes.
- Recently partnered with Elon Musk's xAI, becoming its official prediction market partner.
- Last September, there were discussions about launching its own token.