The blockchain-based prediction markets platform Polymarket is looking to raise fresh capital at a $20 billion valuation. According to Bloomberg, the company closed a funding round at a $15 billion valuation in April, which included a $600 million investment from the Intercontinental Exchange, the owner of the New York Stock Exchange.
Polymarket founder and CEO Shayne Coplan has long argued that Polymarket should be viewed as an information platform rather than a betting site. He stated that prediction markets allow people to "put your money where your mouth is" when they disagree with consensus.
Polymarket's biggest competitor, Kalshi, is reportedly seeking new capital at a $40 billion valuation.
