What To Know:
- Polymarket is in early talks to raise funds at a $12B–$15B valuation.
- Trading volume and user activity surged in late 2025, boosting investor interest.
- The firm is expanding with new partnerships, a planned POLY token, and a Pro platform.
Polymarket is preparing for a new fundraising round that could value the company between $12 billion and $15 billion, according to people familiar with the matter. The talks remain early, but investors have been monitoring the company’s rapid rise over the past 18 months.
Polymarket Seeks Funding Amid Growing Volumes
If completed, the round would follow a sharp increase from Polymarket’s last confirmed valuation of $10 billion. That figure itself was a major jump from June 2025, when the platform raised $200 million at a $1 billion valuation in a round led by Founders Fund. The current target underscores a dramatic shift in private-market sentiment around prediction platforms. It also signals the scale of institutional interest that has accumulated in the sector.
Polymarket gained its widest visibility during the 2024 US election cycle, when trading activity surged and users placed more than $8 billion in wagers. A series of independent analyses later drew attention to the platform’s forecasting record. Research published on Dune earlier this year found accuracy rates above 90%. This reinforces claims that well-informed markets can serve as a high-frequency indicator of public expectations.
The firm has continued to form strategic partnerships. This week, Polymarket and rival platform Kalshi entered licensing agreements with the National Hockey League, making the NHL the first major US sports league to authorize the use of its trademarks in markets outside the sportsbook industry. The agreement shows that large institutions are willing to work with prediction platforms while regulatory questions are still being evaluated in Washington.
Kalshi has been expanding as well. Earlier this month, the company raised $300 million at a $5 billion valuation and is now pursuing additional commitments that could lift its valuation above $10 billion, according to Bloomberg. The parallel fundraising pushes illustrate a broader trend: prediction markets are drawing large-scale backing from traditional finance, venture capital, and data analytics firms seeking exposure to new consumer and institutional behavior models.
The renewed interest in Polymarket also coincides with a strong month of activity across the sector. Several sources familiar with its operations said the platform reached billions of dollars in monthly and weekly trading volume during October and November 2025. Daily active traders increased sharply, moving from 20,000 to nearly 58,000, driven partly by speculation about the long-rumored $POLY token. The company’s CMO, Matthew Modabber, confirmed that a token and airdrop are planned, ending months of anticipation among users.
Polymarket now reports more than 1.3 million traders and $18.1 billion in total processed volume. According to data from Token Terminal, the platform recorded $3 billion in volume during October alone, executed by more than 338,000 unique traders. The platform operates on the Polygon network and relies heavily on Circle’s USDC for settlement. Analysts have pointed to this growth as evidence that prediction platforms have moved well beyond niche status. Activity on Kalshi reached $4.4 billion in the same period, while Limitless reported 68,000 unique traders.
Institutional participation is increasing as well. Earlier this month, Intercontinental Exchange announced plans to invest up to $2 billion in Polymarket as the company prepares to return to the US market. Polymarket has been conducting controlled tests of its American exchange since November 2025, marking its first step toward domestic re-entry since a 2022 settlement with the Commodity Futures Trading Commission required it to block US users.
The company is also preparing to launch a professional trading platform aimed at institutional and advanced users.
Also Read: Polymarket Teams Up With Chainlink to Improve Market Accuracy
