Polymarket, a platform for betting on real-world events, is nearing completion of its $200 million funding round, increasing its valuation to $1 billion.
Renewed User Interest
The recent funding round coincides with a resurgence of interest in prediction markets. Last year's U.S. presidential election between Donald Trump and Kamala Harris generated significant excitement for Polymarket, with millions of users betting on the election outcome. On the day before the November 4, 2024 election, over $3 billion was traded on the Trump vs. Harris market. Following the election, platform activity dropped, yet since March 2025, Polymarket has experienced three months of growth in trading volume, which increased by 21% in April and another 17% in May.
Funding History and Future Plans
This new $200 million round adds to Polymarket's previous funding. In May 2024, the company raised $45 million through a Series B round, and before that, it had quietly raised $25 million in a Series A round led by General Catalyst. Polymarket also considered raising another $50 million and was planning to launch its own token that could be used for settling bets on the platform. If this new deal goes through, Polymarket will have raised significantly more than its main competitor Kalshi, which raised $30 million in a Series A round in 2021.
International Activity and Regulatory Challenges
Polymarket allows users to predict various events, ranging from politics to sports and global economics. However, the company has faced challenges from U.S. regulators. In 2022, the CFTC fined the company $1.4 million, forcing it to shut down some of its services in the U.S. Currently, the majority of its trading volume comes from users outside the country, highlighting their adaptation to the international market, despite challenges such as the potential ban from Thailand's cybercrime investigation bureau.
Polymarket is on an impressive growth trajectory despite regulatory challenges in the U.S. The new funding round could strengthen its position in the prediction market and offer significant opportunities for future development.
