Polymarket Valuation, Funding & Investors
Polymarket is valued at $9B as of October 2025.
Last Polymarket valuation
$9B
Strategic investment · Oct 2025
Last Polymarket funding round
$100K
Strategic investment · May 2026
Cumulative funding Polymarket raised
$2.9B
across 9 funding rounds
Key investors in Polymarket
Founders Fund
Polychain
General Catalyst
Blockchain Capital
Dragonfly
A*
About Polymarket
Polymarket is a New York-based prediction market on the Polygon network using USDC stablecoin. Users trade shares on events like U.S. elections, Oscars, and sports outcomes with settlement via Chainlink oracles. The platform processed over $1 billion in volume during the 2024 election cycle, attracting traders from 150 countries through Ethereum wallets.
Founded
2020
HQ
New York City, NYWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Commission
Valuation
$9B (Oct 2025)
Polymarket Valuation
Polymarket is currently valued at $9B, based on its strategic investment round in October 2025.
The $2B round was led by Intercontinental Exchange.
Polymarket's valuation has grown 26x from $350M at its undisclosed-stage round in July 2024 to $9B in October 2025, across 3 priced rounds.
Polymarket valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2025 | Strategic investment | $9B |
| Jul 2025 | Series C | $1.2B |
| Jul 2024 | Undisclosed stage | $350M |
Polymarket Funding History
Polymarket has raised a total of $2.9B across 9 funding rounds.
Polymarket's first fundraising round was a $4M seed round in October 2020. The most recent completed round was a $100K strategic investment round in May 2026.
Polymarket funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2026 | Strategic investment | Neptune Digital Assets (lead) | $100K | - | Neptune Digital Assets Corp. established an initial position in Polymarket in May 2026 through an arm's-length transaction using approximately USD 0.1 million to secure an equity interest. The deal appears to be a small strategic investment rather than a control acquisition, with no additional consideration structure disclosed. Neptune framed the investment as part of a broader portfolio strategy that includes Bitcoin, Solana, SpaceX shares, and other staked tokens generating recurring income. The investment expands Neptune's exposure to blockchain-based financial infrastructure and prediction market platforms. Neptune described the move as a selective allocation intended to enhance its treasury and income stream portfolio. No valuation, revenue, EBITDA, or transaction multiple for Polymarket was disclosed. Neptune also indicated it continues to rely on its existing liquidity and credit facilities to grow its treasury and income streams while preserving optionality around future capital raising and a US exchange listing. Neptune Digital Assets is a blockchain infrastructure and frontier technology company with a treasury-oriented operating model. Its reported asset base in 2026 included 420 Bitcoin, roughly 37,500 to 37,600 Solana tokens, and a private-space equity stake, with total assets reported at USD 68.4 million. The company characterized these holdings as part of a diversified digital-asset treasury strategy, and the Polymarket investment adds another venture-style position to that portfolio. |
| Mar 2026 | Strategic investment | ice (lead) | $600M | - | - |
| Dec 2025 | Series A | Sahin Boydas | - | - | - |
| Oct 2025 | Strategic investment | Intercontinental Exchange (lead) | $2B | $9B | Polymarket is a blockchain-based prediction market platform founded in 2020 that enables users to trade on the outcomes of events. In October 2025, Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, announced a $2 billion strategic investment valuing Polymarket at $9 billion post-money. This marked a significant institutional validation for the prediction markets sector, with ICE also agreeing to distribute Polymarket's data globally and collaborate on tokenization initiatives. The platform gained mainstream prominence during the 2024 U.S. presidential election, achieving peak daily trading volumes of nearly $400 million in November 2024, though daily volume subsequently normalized to $40–80 million by early October 2025. Prior to the ICE investment, Polymarket had raised capital at lower valuations; in June 2025, the company was reportedly close to raising $200 million at a $1 billion valuation. The investment provided Polymarket with financial resources and institutional credibility following its earlier acquisition of QCEX, a CFTC-licensed exchange, for $112 million to establish compliant U.S. operations. |
| Jul 2025 | Series C | Founders Fund (lead) | $150M | $1.2B | Polymarket is a decentralized prediction market platform founded in 2020 by Shayne Coplan that allows users to trade on the outcomes of real-world events including global politics, economic indicators, and cultural milestones. The platform creates a 'wisdom of the crowd' signal by aggregating market predictions and has experienced explosive growth in trading volumes and user adoption. In January 2025, Polymarket closed a Series C funding round of $150 million at a $1.2 billion post-money valuation, establishing the company as a newly minted unicorn. This round was led by Founders Fund (Peter Thiel's venture capital firm) and represented significant investor confidence in the prediction market sector following Polymarket's successful 2024 election markets. As of October 2025, Polymarket had raised cumulative capital exceeding $2.3 billion across multiple rounds, with its cap table spanning traditional VCs including General Catalyst and Founders Fund, crypto-native funds such as Polychain and Blockchain Capital, hedge fund money from Point72, and strategic corporate investors including Intercontinental Exchange and Coinbase. The company subsequently attracted discussions for additional funding at significantly higher valuations, with reports in late 2025 suggesting potential rounds at $8–15 billion valuations, and by March 2026 early-stage discussions were underway for a round at approximately $20 billion valuation, reflecting the platform's rapid growth and mainstream acceptance of prediction markets. |
| Jul 2024 | Undisclosed stage | Blockchain Capital (lead) | $55M | $350M | Polymarket is a decentralized prediction market platform built on blockchain, enabling users to trade on real-world event outcomes like politics and economics using USDC on Polygon for stable settlements and low fees. Founded in 2020 by Shayne Coplan in New York, it simplifies onboarding with wallet-less signups via MoonPay or Stripe. In 2024, Polymarket raised a previously unannounced $55M round at a $350M valuation, led by Blockchain Capital with participation from investors like Coinbase Ventures, Dragonfly, and Ribbit Capital. This followed earlier rounds including a $25M Series A in 2022 and preceded a May 2024 Series B of $45M at around $1B valuation led by Founders Fund with Vitalik Buterin. The $55M round supported expansion amid surging popularity from events like the 2024 U.S. elections, driving 48x volume growth that year due to low Layer 2 costs and USDC liquidity. Polymarket focused on global growth after U.S. exit in 2022 due to regulatory issues, positioning against competitors like Kalshi. Post-2024, Polymarket accelerated: a $150M round in early 2025 at $1.2B valuation with Founders Fund, Coinbase Ventures, Blockchain Capital, and others; then a massive October 2025 strategic $2B investment from Intercontinental Exchange at $9B post-money valuation (pre-money $8B), acquiring CFTC-licensed QCEX for U.S. relaunch with near-zero fees. Cumulative funding exceeded $2.3B by late 2025, with talks of a $20B round in 2026. |
| May 2024 | Series A | General Catalyst (lead); Polychain; Joe Gebbia | $25M | - | Polymarket is a prediction market platform enabling users to bet on real-world events using cryptocurrency. The Series A round, which raised $25 million around late 2021 to early 2022 but aligned with the queried investors (led by General Catalyst, with Polychain and Airbnb co-founder Joe Gebbia), was disclosed publicly in May 2024 alongside a Series B announcement. In May 2024, Polymarket also closed a $45 million Series B led by Founders Fund (Peter Thiel's firm), with participation from Vitalik Buterin and others, highlighting growing interest due to its utility in checking event probabilities during breaking news. General Catalyst's prior involvement bridged traditional VC support. The platform had faced a CFTC inquiry around the Series A close but continued expanding. Later developments included a January 2025 Series C at $1.2 billion valuation ($150M raised) and massive 2025 financings: $150M from Founders Fund in June and $2B from Intercontinental Exchange in October at ~$9B valuation, pushing cumulative funding over $2.3B. Polymarket added Bitcoin support, stock/index markets, and acquired QCEX for U.S. relaunch post-CFTC settlement. |
| May 2024 | Series B | Founders Fund (lead); ParaFi Capital; Dragonfly; 1confirmation; A*; Vitalik Buterin | $45M | - | Polymarket is a blockchain-based prediction market platform built on Ethereum and Polygon, allowing users to bet on real-world events such as political races and pop culture using USDC. The company disclosed a total of $70 million raised across two rounds: a Series A of $25 million led by General Catalyst with participation from Airbnb’s Joe Gebbia and Polychain, and a Series B of $45 million in May 2024 led by Founders Fund with investors including Vitalik Buterin, 1confirmation, Dragonfly, ParaFi Capital, and Kevin Hartz. Platform traction surged around the 2024 U.S. presidential election with over $3.3 billion in volume on presidential markets and praise for accuracy from figures like Elon Musk and Donald Trump. By 2025, total volume reached $21.5 billion across markets, with a monthly active user peak of 477,850 in October 2025 and 1.7 million unique addresses. Post-Series B developments included additional equity rounds, with cumulative funding reaching over $2.3 billion by October 2025, involving investors like Coinbase Ventures, Blockchain Capital, and Point72 Ventures. A major strategic investment from ICE in October 2025 valued the company at approximately $8 billion pre-money (~$9–10 billion post-money), highlighting growth in prediction markets as institutional information infrastructure amid regulatory and network effects. |
| Oct 2020 | Seed | Polychain (lead) | $4M | - | Polymarket raised $4 million in a seed funding round on October 19, 2020, led by Polychain Capital with participation from 1confirmation, ParaFi Capital, Polygon Ventures, Balaji Srinivasan, Naval Ravikant, and others. The decentralized prediction market platform enables users to trade on debated topics including politics, health, business, and science using cryptocurrency. The funding supported progression to stage 2 of its beta release to simplify onboarding and trading for mainstream users. |
Who has invested in Polymarket?
14 investors have backed Polymarket across its funding rounds, including Founders Fund, Polychain, General Catalyst, Blockchain Capital, Dragonfly and A*.
Lead investors include Neptune Digital Assets, ice, Intercontinental Exchange, Founders Fund, Blockchain Capital and 2 other investors.
Polymarket Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| San Francisco, CA | 2 | Lead | May 2024 | |
| San Francisco, CA | 2 | Lead | Oct 2020 | |
| San Francisco, CA | 1 | Lead | May 2024 | |
| Austin, TX | 1 | Lead | Mar 2026 | |
| Greenwich, CT | 1 | Participant | May 2024 | |
| Atlanta, GA | 1 | Lead | Oct 2025 | |
| San Francisco, CA | 1 | Participant | May 2024 | |
| San Francisco, CA | 1 | Participant | Dec 2025 | |
 Canada | 1 | Lead | May 2026 | |
| San Francisco, CA | 1 | Lead | Jul 2024 | |
| United States | 1 | Participant | May 2024 | |
| United States | 1 | Participant | May 2024 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Polymarket
Polymarket has acquired 4 companies to date.
Last acquisition by Polymarket was on June 26th 2026. Polymarket acquired Craft for undisclosed valuation.
Latest Acquisitions by Polymarket
| Description | Craft is a Budapest-headquartered document platform launched in 2019 for creating responsive notes, wikis, and presentations. Users build content blocks with rich media embeds, exporting to PDF, Markdown, or sharing via public links compatible with Slack and email clients. The app serves teams in Europe and North America for knowledge management. | - | Dome provides an API platform unifying access to prediction markets for developers building related applications. | QCEX is a cryptocurrency exchange platform offering spot trading, futures contracts, and staking for digital assets like Bitcoin, Ethereum, and altcoins. Licensed in Australia, the exchange provides low-fee trades, advanced charting via TradingView integration, and fiat on-ramps through bank transfers. QCEX serves retail and institutional traders across Asia-Pacific with 24/7 support and cold storage security protocols. |
| HQ Country |  |  | | |
| HQ City | Budapest | - | - | Boca Raton, FL |
| Deal Date | 26 Jun 2026 | 17 Mar 2026 | 19 Feb 2026 | 21 Jul 2025 |
| Valuation | undisclosed | undisclosed | undisclosed | $112M |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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Polymarket Competitors
Polymarket competitors include listed companies like The Lottery Corporation and Lottomatica Group, and private ones like KuCoin, Labs, Dream11 and FalconX.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 China | Private | - | - | $10B | - | |
| Los Angeles, CA | Private | - | - | $10B | - | |
 Mumbai | Private | $273M | $19M | $8B | 29.3x | |
| San Francisco, CA | Private | - | - | $8B | - | |
 Australia | Publicly listed | $2.5B | $449M | $7.7B | 3.5x | |
 Italy | Publicly listed | $2.6B | $830M | $7.4B | 3.6x |
Polymarket Public Comps
Polymarket is still privately-owned, but its public comps include The Lottery Corporation, Lottomatica Group, DraftKings, Allwyn, Super Group SGHC, Churchill Downs, Bullish, FDJ United, Galaxy Digital and Entain.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $2.5B | $449M | 3.6x | 3.5x | 20.1x | 16.7x | |||
| $2.6B | $830M | 3.8x | 3.6x | 11.8x | 9.1x | |||
| $6.1B | $302M | 2.0x | 1.9x | 40.0x | 17.4x | |||
| $1.9B | $945M | 11.1x | 4.2x | 22.3x | 10.5x | |||
| $2.2B | $430M | 2.7x | 2.4x | 14.1x | 9.0x | |||
| $2.9B | $1.1B | 3.5x | 3.5x | 9.7x | 8.4x | |||
| $245B | ($727M) | 0.0x | 13.5x | (6.3x) | 38.2x | |||
| $4.2B | $1B | 1.6x | 1.6x | 6.5x | 6.6x | |||
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Common questions about Polymarket
| When was Polymarket founded? | Polymarket was founded in 2020. |
| Where is Polymarket headquartered? | Polymarket is headquartered in New York City, NY, United States. |
| Is Polymarket publicly listed? | No, Polymarket is a private, VC-backed company. |
| What is Polymarket's valuation? | Polymarket was last valued at $9B in its strategic investment round in October 2025. |
| How much funding has Polymarket raised? | Polymarket has raised $2.9B across 9 funding rounds. |
| What was Polymarket's last funding round? | Polymarket's last funding round was a $100K strategic investment round in May 2026, led by Neptune Digital Assets. |
| Who are Polymarket's investors? | Polymarket's investors include Founders Fund, Polychain, General Catalyst, ice, ParaFi Capital, Intercontinental Exchange, Dragonfly, Sahin Boydas, Neptune Digital Assets, Blockchain Capital and 4 others. |
| Which companies are comparable to Polymarket? | Companies comparable to Polymarket include KuCoin, Labs, Dream11, FalconX, The Lottery Corporation and Lottomatica Group. |
| How many companies has Polymarket acquired? | Polymarket has acquired 4 companies, including Craft, Brahma, Dome and QCEX. |
| What was the largest acquisition by Polymarket? | The $112M acquisition of QCEX in July 2025 is the largest acquisition Polymarket has made to date. |
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