The fresh funding round would build on a $1.6bn cumulative stake held by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. ICE had previously committed to investing up to $2bn into Polymarket and confirmed last month that it has 'completed its obligations' under that plan, as initially reported by The Information. The $15bn valuation marks a significant step up from the $9bn figure recorded last year, when ICE first took a $1bn stake in the company. However, it still trails the $22bn valuation commanded by rival prediction platform Kalshi, which closed a $1bn fundraising round recently. The broader prediction market sector continues to attract strong investor interest, driven by surging trading volumes on financial contracts tied to sports, elections, and other events. In March, notional trading volume on Polymarket reached $10.6bn, six times the level recorded just six months prior, according to user-compiled data on Dune Analytics. Subscribe to...
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