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2d ago

Polymarket Nears $1 Billion Valuation With $200 Million Funding Round

Backing from Peter Thiel’s Founders Fund fuels Polymarket’s planned return to the U.S. market.

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Overview

  • The Information reports that Founders Fund is leading a $200 million raise at a $1 billion valuation, including $50 million of previously undisclosed capital.
  • Polymarket has become the official prediction market partner for Elon Musk’s xAI and his social network, X.
  • U.S. users have been barred since a 2022 CFTC settlement, but Polymarket now aims to resume American operations.
  • The platform attracted a record 15.9 million visits in May and has posted nearly $14.8 billion in cumulative betting volume.
  • Its markets processed about $8 billion in bets during the 2024 U.S. election and are credited with forecasting outcomes up to 94% accurately.