Published on: April 20, 2026, 11:21h.
Updated on: April 20, 2026, 11:21h.
- The prediction market platform is reportedly negotiating to secure $400 million at a $15 billion valuation.
- This is lower than its competitor Kalshi’s estimated valuation of $22 billion.
- Recently, Polymarket raised $600 million from Intercontinental Exchange.
Polymarket, which claims the title of the largest prediction market globally, is reportedly engaged in talks with investors to raise $400 million, which could elevate its valuation to $15 billion.
According to two anonymous sources familiar with the matter, The Information has reported that Polymarket is in discussions with potential investors regarding a $400 million funding round. This news follows closely after it was mentioned that Intercontinental Exchange (NYSE: ICE), the parent company of the New York Stock Exchange (NYSE), injected another $600 million into the prediction market powerhouse.
At the time of the recent ICE investment, it was suggested that Polymarket was looking to raise $1 billion, attracting investors beyond the exchange operator. Notable backers for Polymarket include Peter Thiel’s Founders Fund, Donald Trump Jr., and Ethereum co-founder Vitalik Buterin, among others.
Value Disparity Between Polymarket and Kalshi
Last month, unverified sources indicated that Polymarket was aiming for a Series E funding round that could elevate its valuation to $20 billion. However, with the current goal of raising $400 million at a $15 billion valuation, it seems that target will not be met.
This creates a considerable disparity when comparing Polymarket and its competitor Kalshi, which recently completed a $1 billion funding round led by Coatue Management, pushing its estimated value to $22 billion. Kalshi’s valuation has remarkably increased eleven-fold in merely nine months.
The substantial gap between these two prediction market platforms can likely be attributed to Kalshi’s operations within the US, where it has established a significant advantage over competing yes/no exchange platforms. Reports suggest Kalshi has roughly 90% of the event contracts market domestically, while Polymarket has yet to be fully operational in the US.
Polymarket’s Increasing Valuation
While Shayne Coplan’s company may enter this funding round at a valuation notably below that of its main competitor, it is clear that investors are consistently assigning higher values to Polymarket. For instance, ICE invested $2 billion in Polymarket last October at a pre-money valuation of $8 billion, indicating the valuation has nearly doubled since then.
Just last July, the prediction market giant finalized a $135 million bridge financing round, which positioned its valuation at $3 billion, following a $45 million Series B round two months earlier that valued Polymarket at $1 billion.
This indicates that investors are eager to participate with Polymarket, despite the company’s operational absence in the US and the myriad legal challenges facing the prediction markets industry.