Polymarket raises $200M, valued at $1B, with explosive growth in trading volume

From Cointelegraph

June 24, 2025 11:11 pm:

Blockchain prediction market platform Polymarket is finalizing a $200 million funding round led by Peter Thiel’s Founders Fund, valuing the company at $1 billion. Despite being banned for American users, Polymarket saw explosive growth during the 2024 US presidential election, with trading volume peaking at $2.5 billion in November. The platform allows bets on various scenarios and has 1.2 million traders globally.

The latest funding round comes after Polymarket announced a partnership with Elon Musk’s social media platform X. The platform also shows an 87% chance that the stablecoin bill, the GENIUS Act, will be signed into law this year. Polymarket has faced backlash and scrutiny over allegations of prediction market outcome manipulation and has been banned or restricted in several countries.

Polymarket has around 1.2 million traders, 21,000 open markets, 20 million open positions, and $700 million in trading volume. According to Dune Analytics, Polymarket’s monthly trading volume for May was around $1.1 billion, down 56% from its November peak of $2.5 billion. The platform competes with other prediction platforms and has been banned in multiple countries.

Read more at Cointelegraph: Polymarket Set For $200M Raise $1B Valuation