Polymarket will raise $200 million at a valuation of $1 billion

Gate News bot news, according to CoinTelegraph, Block chain prediction market platform Polymarket is about to complete a round of $200 million in financing, with a valuation of about $1 billion.

According to Reuters and Bloomberg, citing people familiar with the matter, billionaire entrepreneur Peter Thiel’s Founders Fund will lead the financing of Polymarket.

Despite being banned in the United States, Polymarket’s $1 billion valuation still gives the company “unicorn” status. The Federal Bureau of Investigation (FBI) even executed a search warrant on the platform in November, seizing founder Shayne Coplan’s electronic devices out of concern that Polymarket might be providing access to Americans.

The report said that Polymarket had raised over 100 million US dollars, including a previously undisclosed 50 million US dollar investment earlier in 2025.

The latest round of financing took place after Polymarket announced a partnership with Elon Musk’s social media platformX in early June. The two companies aim to combine Polymarket’s prediction market with the analysis of the artificial intelligence chatbot Grok.

The platform experienced explosive growth during the 2024 US presidential election, with trading volume exceeding $25 billion in November, as bettors used cryptocurrencies to wager on the election results and a range of other events.

The platform allows betting on various scenarios, such as whether Israel will attack Iran again, the likelihood of a US economic recession in 2025, the likelihood of a ceasefire between Russia and Ukraine in July, the Federal Reserve interest rate decision, and the outcome of the New York City mayoral primary.

The platform also shows that there is an 87% chance of the stablecoin bill ‘GENIUS Act’ being signed into law this year.

According to the data analysis of Polymarket platform, the global prediction market currently has approximately 1.2 million traders, 21,000 open markets, 20 million outstanding positions, and a trading volume of 700 million US dollars.

According to Dune Analytics data, Polymarket’s May trading volume was about $1.1 billion, a 56% decrease from its peak of $2.5 billion in November.

In addition to being blocked in the United States, Polymarket has also been prohibited or restricted in France, Singapore, Thailand, Taiwan, Poland, and Belgium. The platform also faces strong opposition and scrutiny for alleged manipulation of prediction market results.

Polymarket competes with other prediction market platforms, including Kalshi, backed by Y Combinator and Sequoia Capital.