It’s been a good year for Polymarket. After first notching record traffic last month, the blockchain-based prediction market then signed a deal earlier this month with Elon Musk’s xAI company, becoming the official prediction market partner for xAI and X. And now Polymarket is on the edge of raising $200 million in new capital at a $1 billion valuation, according to The Information.
Peter Thiel’s Founders Fund is said to be leading the round, according to the report. The $200 million figure includes $50 million that was raised in previously unannounced funding.
In May, Polymarket reached a record high in terms of website traffic in May with 15.9 million visits, more than rival betting markets FanDuel, DraftKings and Betfair, and roughly 10x more than direct competitor Kalshi.
It’s surreal just how big Polymarket has gotten pic.twitter.com/iXT52YQkEY
— Shayne Coplan 🦅 (@shayne_coplan) June 13, 2025
Polymarket’s continued success comes after a record-breaking US election year that saw around $8 billion worth of bets placed on the platform. It was also widely cited during the election as a data source for predicting the outcome. According to a Dune data scientist, betting markets on Polymarket predict outcomes with up to 94% accuracy.
Polymarket’s predictive track record has moved beyond mere politics, however, and as noted earlier this week, Goldman now directly cites the platform for its own analysis.
Goldman using Polymarket for oil price analysis https://t.co/7n7GfGGwu2 pic.twitter.com/JA0csVar2j
— zerohedge (@zerohedge) June 22, 2025
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