Predictions marketplace Polymarket is in early talks with investors about a new investment worth between $12 billion and $15 billion, Bloomberg reported Thursday, citing people familiar with the matter.
That level would mark a more than 10-fold increase from its $1 billion valuation in June, when it raised $200 million in a round led by Peter Thiel’s Founders Fund.
Polymarket shot to prominence during the 2024 US election campaign when more than $8 billion in bets were placed on the platform. Research from Dune earlier this year suggested that Polymarket predicted real-world events with over 90% accuracy.
Along with its rival Kalshi, Polymarket this week signed multi-year licensing agreements with the National Hockey League (NHL), becoming the first professional sports league to allow the use of its trademarks in markets outside the sportsbook industry.
Kalshi raised $300 million at a $5 billion valuation earlier this month. It is now in talks for additional investments that would value it at over $10 billion, according to the Bloomberg report.
Neither company immediately responded to CoinDesk’s request for comment.
