Polymarket Valued at $9B Following CFTC Approval and User Growth

Polymarket, an online betting exchange, is considering a valuation deal of $9 billion, up from $1 billion three months ago.
This increase follows regulatory changes allowing Polymarket to operate in the U.S., after previously being barred by the Commodity Futures Trading Commission.
Polymarket allows users to bet on political, legal, and geopolitical outcomes, processing over $8 billion in wagers during the last U.S. election cycle, surpassing platforms like FanDuel and DraftKings.
Competitor Kalshi's valuation rose to $5 billion from $2 billion earlier this year, reflecting investor interest in regulated prediction markets.
Polymarket has received investment from 1789 Capital, led by Donald Trump Jr., who also serves as an advisor.
While prediction markets face criticism for potentially spreading misinformation, supporters argue they offer clear insights into public sentiment on significant events.