Polymarket eyes $400M raise at $15B valuation

Polymarket is in advanced talks to raise roughly $400 million at a post‑money valuation near $15 billion after reporting $10.57 billion in trading volume in March 2026. The financing is not finalized; the company is seeking additional strategic investors and the round could expand to as much as $1 billion, according to people familiar with the discussions.

Polymarket operates an onchain prediction market under Blockratize, Inc., where users trade on outcomes including elections, geopolitics, sports and cryptocurrency prices. The platform reported about $10.57 billion in monthly trading volume in March 2026, with single‑day peaks near $478 million. February 2026 recorded more than $7 billion in monthly volume and a single‑day high of roughly $425 million. Trading activity remained elevated into April across thousands of active markets.

The potential raise builds on investments from Intercontinental Exchange. In October 2025 ICE agreed to invest up to $2 billion at an estimated $8 billion pre‑money valuation. ICE completed a $1 billion direct investment in October 2025 and a $600 million cash investment on March 27, 2026. Planned purchases of securities from existing holders bring ICE’s committed capital to more than $1.6 billion to date.

Polymarket has raised more than $2.3 billion in total capital since a roughly $4 million seed round in 2020. Prior financings include a $55 million round in 2024 that valued the company at about $350 million and a $150 million round led by Founders Fund in early 2025 that priced the company at roughly $1.2 billion.

People familiar with the discussions indicated the company expects to use new capital for product development, market expansion and to strengthen its position in the prediction‑market sector.

Kalshi, a regulated U.S. exchange competitor, recently reached an estimated $22 billion valuation in a funding round. Polymarket’s onchain model and global user base differ from regulated U.S. competitors.

Conversations around the current financing are ongoing and terms could change before any deal is finalized, according to people familiar with the discussions.