Polymarket in Talks to Raise $1B at Over $20B Valuation: Bloomberg

Prediction market platform Polymarket is in preliminary discussions with potential investors to raise about $1 billion at a valuation exceeding $20 billion, Bloomberg reported on Tuesday, citing people familiar with the matter.

If completed, the financing would more than double the company’s $9 billion valuation from October 2025.

Polymarket most recently raised about $1 billion in April at a $15 billion valuation, according to the report. That round included investors such as G Squared and D.E. Shaw. Since then, the company has launched its U.S. platform and increased its annualized revenue to more than $1.2 billion.

The report said rival Kalshi was valued at $22 billion following a funding round in May, while its trading volume in July was about three times Polymarket’s.

A Polymarket spokesperson declined to comment on the report.

Source: Bloomberg