Polymarket Nears $9B Valuation After U.S. Regulatory Approval
Polymarket, the online platform for wagering on real-world events, is reportedly exploring a deal that could value the company at $9 billion, according to The Information. This represents a sharp rise from the $1 billion valuation just three months ago, following a funding round led by Peter Thiel’s Founders Fund.
The jump comes after regulatory progress in the U.S. The Commodity Futures Trading Commission had barred Polymarket from offering prediction contracts domestically in 2021, but earlier this year the platform received clearance to operate in the U.S., opening the door to new growth opportunities.
Polymarket allows users to bet on elections, court rulings, and geopolitical events. During the last U.S. election cycle, the platform processed more than $8 billion in wagers, surpassing sports betting leaders such as FanDuel, DraftKings, and Betfair in online traffic.
Rival Kalshi has also seen its valuation increase, rising to $5 billion from $2 billion earlier this year, reflecting strong investor interest in regulated prediction markets.
High-profile backers include Donald Trump Jr.’s 1789 Capital, which invested tens of millions and joined as an advisor. While prediction markets remain controversial in Washington, supporters argue they provide a transparent gauge of public sentiment on political and global events.
