Polymarket reportedly seeks $1 billion at $20B
Polymarket is reportedly in preliminary talks with prospective investors about raising roughly $1 billion at a valuation above $20 billion. Bloomberg reported the discussions on Aug. 4, citing people familiar with the private negotiations. The company has not announced a deal. A Polymarket spokesperson declined to comment on the report. The fundraising amount, valuation and investor group should therefore be treated as “preliminary” rather than completed financing. A successful round would place Polymarket near Kalshi, its largest prediction market rival, which secured a $22 billion valuation in May. It would also continue the rapid rise in private valuations across an industry expanding from election contracts into sports, economics, crypto and other real world events. Polymarket funding talks remain unconfirmed The reported transaction remains at an early stage. No term sheet, closing date or final investor list has been released. Private funding discussions can change before completion, including the capital raised and the valuation investors ultimately accept. Comparisons with Polymarket‘s October 2025 valuation also require care. Bloomberg referred to a valuation of about $9 billion. However, Intercontinental Exchange’s official announcement said its planned investment reflected an approximate $8 billion valuation before the new capital was added. The figures may use different valuation bases and are not necessarily