Polymarket, the crypto-native prediction platform, is in talks to raise fresh funding at a valuation between $12 billion and $15 billion, according to Bloomberg. What’s remarkable is how fast this growth has happened. In June, the Shayne Coplan-led company was valued at just $1.2 billion after a $150 million round led by Peter Thiel’s Founders Fund. By early October, that number had ballooned to $9 billion, following a massive investment agreement with Intercontinental Exchange (ICE), the parent firm of the NYSE.
If this new round closes near the top end of its target, Polymarket will have seen a 10x valuation jump in less than five months, cementing its position as the market leader in the prediction economy.
The Rise of Crypto Prediction Platforms
Founded in 2020, Polymarket lets users bet on real-world outcomes using simple yes/no contracts. Topics range from elections and sports to financial markets and pop culture. The appeal lies in the wisdom-of-the-crowd dynamic—aggregating public sentiment into a tradable market signal.
This space has been heating up quickly. Kalshi, a U.S.-regulated rival, has also been attracting major capital, with its valuation jumping from $5 billion to potentially $12 billion in just weeks. The competition highlights a growing investor belief that prediction markets could become a new frontier for decentralized finance, combining speculation, data-driven insights, and social engagement.
ICE, DraftKings, and the Push into Mainstream Finance
Polymarket’s ties with established financial and entertainment players are pushing the platform toward legitimacy. ICE’s potential $2 billion investment isn’t just a financial boost—it’s a strategic bridge between Wall Street infrastructure and on-chain market innovation.
Adding to that momentum, Polymarket revealed plans to act as the designated clearinghouse for DraftKings if the sports betting giant enters the prediction market scene. This partnership could blur the line between sports betting and event forecasting, expanding Polymarket’s user base beyond crypto-native traders.
Expansion Across Chains and Markets
To sustain its momentum, Polymarket recently rolled out Bitcoin deposit support and extended its ecosystem to multiple chains including Ethereum, Polygon, Base, Arbitrum, and Solana. It also launched up/down equity and index markets, allowing users to bet on whether stocks or benchmarks will close higher or lower by a specific time—essentially blending prediction markets with traditional finance tools.
The platform hit an all-time high in new markets created last month, showing that user activity and market diversity are both on the rise.
The U.S. Re-Entry and Token Speculation
One of Polymarket’s biggest potential catalysts is its return to the U.S. market. The platform halted U.S. operations in 2022 amid regulatory uncertainty but has now been “given the green light to go live” again, according to Coplan. This could dramatically expand its liquidity base and visibility.
Speculation is also swirling around a potential POLY token, which could incentivize participation and introduce governance features, further decentralizing the platform’s operations.
Kalshi’s Rivalry and the Prediction Market Arms Race
While Polymarket dominates the crypto-native scene, Kalshi’s regulated model appeals to institutional investors. Bloomberg reports that Kalshi has been fielding new offers at valuations between $10 billion and $12 billion, showing how investor appetite for prediction markets is rapidly outpacing early expectations.
Both firms are racing to define the future of event-based finance, each taking a different route—Polymarket through crypto-native freedom, and Kalshi through regulatory alignment.
What’s Next for Polymarket?
The question now is whether Polymarket’s valuation surge is sustainable or speculative. The company’s strategic partnerships, cross-chain integrations, and regulatory re-entry create a strong growth narrative—but maintaining that momentum will depend on user retention, liquidity depth, and navigating evolving compliance landscapes.
If executed well, Polymarket could emerge as the Coinbase of prediction markets, turning public sentiment into a global financial instrument.
The race between Polymarket and Kalshi isn’t just about valuation anymore—it’s about who defines the future of predictive finance.
Source: https://cryptoticker.io/en/polymarket-is-exploding-in-value/
