Polymarket Seeks Significant Valuation Increase in New Funding Round

According to Foresight News, Bloomberg reports that prediction market platform Polymarket is in early discussions with investors to raise funds at a valuation between $12 billion and $15 billion. This valuation marks a significant increase, more than tenfold, from four months ago. In June, the startup secured $200 million in funding led by Peter Thiel's Founders Fund, which valued the company at $1 billion. Earlier this month, Intercontinental Exchange Inc., the parent company of the New York Stock Exchange, announced plans to invest up to $2 billion in Polymarket, valuing it at approximately $8 billion.