Polymarket seeks $400M in private round at $15B valuation

Polymarket has held private fundraising talks to raise $400 million that would value the company at $15 billion, according to people familiar with the discussions.

Company representatives are pitching the round to potential backers. People involved described the effort as a capital raise to support growth and to provide liquidity for existing shareholders. Timing, investor commitments and the split between primary and secondary capital have not been disclosed.

Polymarket operates a blockchain-based prediction market platform where users trade contracts tied to political, economic and other event outcomes with 90 percent accuracy in forecasts. Contracts settle in cryptocurrencies and stablecoins. The platform draws attention within crypto communities for its markets and user activity.

Those involved in the talks expect proceeds to fund expanded product offerings, scale infrastructure and strengthen legal and compliance teams. Participants in the conversations include private equity and venture capital firms that invest in crypto-native businesses; no investor names were shared.

A $400 million raise at a $15 billion valuation would represent a large private financing for a prediction-market company and would place Polymarket among better-capitalized firms in the crypto sector. The discussions remain active and terms could change.

Prediction markets operate under varied rules across jurisdictions, with different approaches to gambling, securities and derivatives. Firms in the space have altered product design, onboarding and compliance practices in response to regulatory scrutiny. People involved noted Polymarket’s plans account for increased legal and compliance resources as it seeks broader growth.

Polymarket has not publicly confirmed the fundraising. Representatives did not immediately respond to requests for comment.