Decentralized prediction markets platform Polymarket is in talks to raise $400 million in new funding at a valuation of $15 billion, The Information reported Sunday, citing sources familiar with the matter.
The possible increase follows reports in October that Polymarket was in early-stage talks with investors to secure $12 billion to $15 billion in additional funding.
Polymarket received a $9 billion post-money valuation in October after NYSE parent Intercontinental Exchange agreed to invest up to $2 billion. According to The Information, the new financing will be in addition to the $600 million already committed by Intercontinental Exchange.
Polymarket also plans to bring in additional strategic investors in addition to Intercontinental Exchange, potentially bringing its total funding to $1 billion, according to the report.
The Block has reached out to Polymarket for comment.
Competition is getting fiercer
Polymarket and its rival Kalshi have been attracting increasing investor interest over the past few months. Last March, Kalshi reportedly raised more than $1 billion at a $22 billion valuation, roughly doubling its value since November.
Kalshi and Polymarket remain the dominant prediction market platforms, with Kalshi reporting approximately $13 billion in monthly sales in March, compared to Polymarket’s $10.57 billion, according to The Block’s data dashboard.
chart expansion
Meanwhile, the industry continues to face regulatory pressure. Kalshi and Polymarket took steps last month to curb insider trading risks as U.S. lawmakers pushed for tighter restrictions on the sector.
Last March, U.S. Senators Adam Schiff and John Curtis introduced the “Prediction Markets are Gambling” bill, which would ban prediction contracts related to sports or casino-style gaming from being listed or traded on registered platforms.
In response, Kalshi introduced new screening tools and Polymarket expanded restrictions on market abuse.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2026 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.