Polymarket seeking funding round that could surge its valuation to $10B

Prediction market Polymarket is pursuing new funding that could boost its valuation to $10 billion, as Business Insider reported on Sept. 12.

Two people with knowledge of the matter said the valuation discussions represent at least a threefold increase from the $1 billion Polymarket achieved in a funding round that closed this summer.

According to one source, at least one investor offered a term sheet valuing the company at $10 billion. A Polymarket spokesperson declined to comment on the funding talks.

Strategic developments

The reported valuation surge follows a series of strategic developments positioning Polymarket for a US comeback.

The Commodity Futures Trading Commission granted regulatory approval for the platform to resume US operations through a no-action letter issued Sept. 3 to QCX LLC, Polymarket’s regulatory partner, acquired for $112 million in July.

The regulatory greenlight enables Polymarket to operate event contracts while maintaining compliance with federal derivatives regulations. It also marks a return after the platform ceased US operations in 2022 following a $1.4 million CFTC settlement over unregistered derivatives trading.

Additionally, Donald Trump Jr. joined Polymarket’s advisory board in August as his venture capital firm 1789 Capital made a strategic investment in the platform.

The partnership adds political expertise as Polymarket prepares for US market entry. Trump Jr. recently praised the platform for cutting through “media spin and so-called expert opinion.”