Polymarket is close to raising $200M at a $1B valuation Polymarket, the blockchain prediction marketplace whose users can wager on everything from U.S. presidential elections to global events, is close to closing its $200 million led by Founders Fund of Peter Thiel. “Polymarket is now a $1B unicorn. Founders Fund is all-in on crypto betting. The next cycle will be wild.” — @Blockworks_ The deal, first reported by Bloomberg, will leave Polymarket with a post-money value of $1 billion—making it crypto's newest unicorn and the highest-valued decentralized betting site ever. The new Series B will include $50 million in prior unannounced funding and is Founders Fund's biggest single bet on a DeFi business. The venture capital firm, already invested after Polymarket's Series B worth $45 million in May, is joined by a roster of heavy-hitters: General Catalyst, Airbnb co-founder Joe Gebbia, Polychain, and Ethereum's Vitalik Buterin. Polymarket's earlier rounds raised $70 million in 2024, fueling fast growth and global expansion. Volumes, Traders, and Election-Driven Expansion The rise of Polymarket has been meteoric. The platform has over 21,000 open markets, 1.2 million traders, and 20 million open positions. Daily average trading volume is $40 million, record May 2025 volume of $1.1 billion, and a peak of $2.6 billion during the 2024 U.S. election. The site is currently a destination for real-time crowd-sourced forecasts on everything from the NBA title to geopolitical flashpoints like Israel-Iran tensions and the fate of the GENIUS Act. Recent partnerships—most notably a high-profile collaboration with Elon Musk's xAI to integrate Polymarket's markets with the analysis of Grok AI—have further raised its profile and user interest. The platform's novel approach to decentralized, non-custodial betting has made it the choice of retail and institutional players alike seeking open, data-driven odds. Albeit global in scope, Polymarket's growth has not been controversy-free. The site is de facto barred to American users under a 2022 CFTC settlement, and it employs geoblocking and VPN detection in order to neutralize legal exposure. But regulators still are wary, with the CFTC putting out a warning that offshore prediction markets ”cannot escape U.S. law by technicality.” To address these matters, Polymarket has hired on the services of ex-CFTC Chairman J. Christopher Giancarlo as a consultant and is weighing further compliance measures. Legal experts disagree. Some argue that Polymarket's fee-based, neutral model distinguishes it from gambling, placing it nearer to a public prediction tool than a sportsbook. Others warn that an increasing regulatory clampdown could reduce U.S. revenue by up to 60% and potentially jeopardize its global ambitions. Token Launch, Global Expansion, and the 2025 Election With $200 million in fresh capital, Polymarket plans to scale operations, build out its tech, and expand into new markets. Rumors of a potential token release also persist, which would further fuel its valuation and network effects. The 2025 U.S. election cycle will create yet another wave of record trading, with new markets on politics, economics, and sport already attracting millions in open interest. Polymarket's $200 million raise at $1 billion valuation marks a new era in decentralized prediction markets. Backed by blue-chip investors, turbocharged user growth, and a high-profile U.S. election coming up, the site can shape how the world bets—and forecasts—the future. But with regulators watching intently, the next chapter may be its most sensational yet.
