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yesterday

Polymarket Eyes Fresh Raise With Reported Valuation Jump to $3B–$10B

Reports follow a CFTC staff no-action to Polymarket’s U.S. partner that opens a path to a regulated return.

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Polymarket CEO Shayne Coplan said the company has been cleared for a US launch.
Polymarket and kalshi

Overview

  • Business Insider reports Polymarket is pursuing a new round that would at least triple June’s $1 billion valuation, with one term sheet said to value the company at up to $10 billion; the company declined to comment.
  • On Sept. 3, CFTC staff issued conditional no‑action relief to QCX, Polymarket’s regulatory partner, providing a pathway for compliant U.S. trading following Polymarket’s acquisition of the CFTC‑registered exchange and clearinghouse.
  • Polymarket halted U.S. access in 2022 after a CFTC settlement over unregistered derivatives and has since pursued a compliance-first route to reenter the market.
  • Recent backers include 1789 Capital, whose partner Donald Trump Jr. joined as an advisor, and Founders Fund, which led the June round at a $1 billion valuation.
  • Year-to-date trading volume has surpassed $8.5 billion, even as monthly active and new users have declined in recent months, according to Dune data cited by outlets.