Polymarket eyes $21 billion valuation following US market return

Polymarket is reportedly in advanced negotiations to raise approximately $1 billion at a post-money valuation of roughly $21 billion. This potential valuation would more than double the company’s $9 billion valuation following investments from Intercontinental Exchange (ICE) in 2025. The new funding round is expected to be led by 1789 Capital.

The company has recently focused on re-entering the United States market. Following a $1.4 million settlement with the Commodity Futures Trading Commission (CFTC) in 2022 regarding unregistered event-contract trading, Polymarket acquired QCEX for $112 million in July 2025. This acquisition provided the company with a federally licensed derivatives exchange and clearinghouse, enabling it to comply with US commodities laws.

As the company scales, investors including ICE and Founders Fund have urged CEO Shayne Coplan to appoint a chief operating officer. Polymarket has been expanding its leadership team, recently hiring Warren Jenson as CFO and recruiting executives from firms such as Goldman Sachs, DoorDash, and Robinhood.