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20h ago

Polymarket Eyes Up to $10 Billion Valuation on Path to U.S. Relaunch

Investor term sheets reported by Business Insider point to a sharp jump from June’s $1 billion mark.

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Polymarket CEO Shayne Coplan said the company has been cleared for a US launch.
Polymarket weighs $9b valuation as kalshi eyes $5b, report says
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Overview

  • Business Insider reports Polymarket is raising a new round that could lift its valuation to at least $3 billion, with one investor offering a term sheet as high as $10 billion; the company declined comment.
  • Regulatory clearance came via a Sept. 3 CFTC staff no-action letter to QCX LLC, Polymarket’s acquired partner, which CEO Shayne Coplan described on X as a green light to go live in the United States.
  • Polymarket bought QCX in July for about $112 million after halting U.S. service in 2022 under a CFTC settlement, and it has not announced a U.S. launch date.
  • The company raised roughly $200 million in June led by Founders Fund at a $1 billion valuation, and later added 1789 Capital as an investor with Donald Trump Jr. joining as an advisor.
  • The Information says Polymarket has weighed a $9 billion valuation as rival Kalshi reportedly nears $5 billion, while recent partnerships include Chainlink’s oracle integration and an X product tie-in.