Blockchain-based prediction market Polymarket is edging nearer to a $200 million elevate at a $1 billion valuation, The Info reported, citing folks acquainted with the plan.
Peter Thiel’s Founders Fund is claimed to be main the spherical, the report added. The $200 million determine consists of $50 million that was raised in beforehand unannounced funding.
Based on SimilarWeb, Polymarket notched a report excessive when it comes to web site site visitors in Could with 15.9 million visits, greater than rival betting markets FanDuel, DraftKings and Betfair.
Polymarket’s continued rise comes after a U.S. election yr that noticed round $8 billion value of bets positioned on the platform. It was additionally broadly cited throughout the election as a knowledge supply for predicting the result. Based on a Dune knowledge scientist, betting markets on Polymarket predict outcomes with as much as 94% accuracy.
Earlier this month, Polymarket signed a take care of Elon Musk’s xAI firm, turning into the official prediction market companion for xAI and X.
Final September, a separate report by The Info claimed that Polymarket was wanting into launching its personal token.
