Polymarket in Talks for $1 B Funding at Over $20 B Valuation

Prediction‑market platform Polymarket is in early-stage discussions to raise about $1 billion, which could push its valuation above $20 billion. The talks follow an April funding round that valued the company at $15 billion and included a $600 million investment from Intercontinental Exchange.

Polymarket’s U.S. exchange, now listed as QCX LLC with the CFTC, has reported annualized revenue exceeding $1 billion and daily trading volume over $100 million. The company has added senior talent, naming former Uber and Lyft executive Travis VanderZanden as chief growth officer and Hayk Mkrtchyan, with New York Stock Exchange experience, to lead U.S. exchange development. No term sheet or closing date has been disclosed.