News: Polymarket seeks to raise $400 million at a valuation of up to $15 billion

ORIGINAL消息：Polymarket 拚籌資 4 億美元，估值上看 150 億美元

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According to a report by the US tech media outlet The Information, citing people familiar with the matter, the decentralized prediction market platform Polymarket is in talks with investors for a new funding round, aiming to raise $400 million at a valuation of $15 billion. This potential financing is not without basis. As early as last October, there were reports that Polymarket was in preliminary discussions with investors, with a target valuation set between $12 billion and $15 billion at the time. In fact, after receiving a commitment of up to $2 billion from Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE), last October, Polymarket's valuation reached $9 billion. The report notes that this new $400 million round would be in addition to the $600 million previously committed by ICE. Furthermore, Polymarket is also seeking to bring in other strategic investors beyond ICE, which could bring the total fundraising scale to $1 billion. In recent months, both Polymarket and its top rival Kalshi have become darlings of the capital markets, attracting significant investor attention. It is reported that Kalshi successfully raised over $1 billion in March this year, with its valuation surging to $22 billion, doubling its value from last November. In terms of operational performance, Kalshi and Polymarket remain the two dominant players in the prediction market. In March this year, Kalshi recorded a monthly trading volume of approximately $13 billion, while Polymarket followed closely behind with $10.57 billion. However, rapid growth is often accompanied by increasing regulatory pressure. As US lawmakers continue to call for stricter regulations on prediction markets, both Kalshi and Polymarket took proactive measures last month to curb potential insider trading risks. In March this year, US Senators Adam Schiff and John Curtis jointly introduced the "Prediction Markets Are Gambling Act," which aims to comprehensively ban prediction contracts related to sports events or casino gambling, prohibiting such contracts from being listed or traded on any legally registered platform. In response, both platforms have taken their own measures: Kalshi has introduced new monitoring tools to track abnormal trading, while Polymarket has further expanded its restrictions on market manipulation and abuse, striving to find a balance between platform innovation and regulatory red lines.

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