Polymarket will raise $1B at $21B valuation, led by 1789 Capital
What's the deal? Venture capital firm 1789 CapitalDealroom has a profile for this one. Try Dealroom → is leading a new funding round for Polymarket that will give the prediction-markets platform a $21 billion post-money valuation. Polymarket will raise $1 billion, according to people familiar with the matter.
Why now? The round more than doubles Polymarket's valuation since April, when it completed a raise at $15 billion and brought in D.E. ShawDealroom has a profile for this one. Try Dealroom → and G Squared as new investors. Bloomberg reported earlier this month that the firm was in early talks to raise at a valuation above $20 billion.
By the numbers: At $1 billion, this ranks among the largest growth equity rounds on record for its sector and geography — near the 99th percentile of 344 comparable deals.
What's the endgame? Polymarket runs a prediction-markets platform where users bet on outcomes ranging from sports to elections. The investment marks another sign of the sector's rapid growth.
What could go wrong? Polymarket has lagged main rival Kalshi this year amid operational and legal issues. Kalshi raised money at a $22 billion valuation in May.
The signal: Investor appetite for prediction markets is intensifying, with two rivals now valued above $20 billion. Notably, Donald Trump Jr., a partner at 1789, advises both Polymarket and Kalshi.
Read more: Bloomberg
Image credit: Generated with Gemini
