Polymarket is in talks for a funding round above $20 billion valuation

Polymarket is discussing a new fundraising round that could value the prediction market platform at more than $20 billion, according to a person familiar with the matter. CNBC confirmed the talks on Tuesday, August 4. The potential valuation comes after Polymarket told CNBC in late June that its annualized revenue was well above $1 billion, following the launch of its regulated U.S. exchange in May. Bloomberg first reported the new fundraising talks. The company previously closed a round in April that valued it at $15 billion, including a reported $600 million direct cash investment from Intercontinental Exchange. Prediction market platforms have seen rapid growth in private markets, with rival Kalshi also reaching a multibilliondollar valuation this year.