Polymarket is eyeing a $200M raise with a $1B valuation in sight
Banned in the U.S., raided by the FBI, but still trying to raise $200M like it’s just another Tuesday.
Prediction markets aren’t the first thing that comes to mind when people talk about billion-dollar industries. But that’s exactly where Polymarket wants to plant its flag, and fast.
The blockchain-based online betting platform shot to popularity during the last U.S. presidential election, clocking over $2.6 billion in traded predictions. That kind of volume sent a loud message: people want to bet on the future.
Now, Polymarket is doubling down.
The platform is reportedly gearing up to raise $200 million in fresh capital, a move that could push its valuation to $1 billion. Not bad for a company that’s still banned in the U.S. and under fire from regulators across multiple countries like France, Singapore, Thailand, Taiwan, Poland, and Belgium.
It’s even been investigated by the FBI for suspected illegal access by American users who kept trading despite the restrictions. Add in a few accusations of market manipulation, and it’s clear this isn’t your average crypto startup.
David Adubiina
But still, its momentum hasn’t stopped.
In 2025 alone, Polymarket quietly pulled in over $50 million in undisclosed funding, bringing its total raise to over $100 million. It’s also landed a headline-making partnership with Elon Musk’s X (formerly Twitter), aiming to integrate prediction market insights into Musk’s AI chatbot, Grok. That move could give Polymarket a real-time voice on one of the internet’s most chaotic stages, and maybe even a shot at the mainstream.
But the race is heating up. Around the same time, U.S.-based rival Kalshi raised $185 million in a round led by Paradigm, doubling its valuation to $2 billion. In that context, Polymarket’s rise isn’t just about growth but about survival.
So, while prediction markets might still feel fringe to some, Polymarket is betting that what’s next in crypto isn’t just speculation on coins alone but on speculating everything. And this time, the billion-dollar prediction is the business itself.
