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Home News Crypto

Polymarket Nears $1B Valuation Amid Global Scrutiny, New Partnership With Elon Musk’s X

25 June 2025
in Crypto, News
Reading Time: 3 mins read
103 7
Polymarket Nears $1B Valuation Amid Global Scrutiny, New Partnership With Elon Musk’s X

SOurce: Yogonet

Blockchain-based prediction market platform Polymarket is reportedly finalizing a $200 million funding round, a move that would push its valuation to the coveted $1 billion “unicorn” status, according to sources cited by Reuters and Bloomberg.

The funding round is reportedly led by Founders Fund, a venture capital firm backed by billionaire Peter Thiel. If completed, the raise would mark a significant milestone for Polymarket, especially considering its regulatory hurdles, including a ban on American users and an FBI raid on its founder, Shayne Coplan, in November 2024, during which authorities seized his electronic devices over suspected violations of U.S. trading restrictions.

Despite these challenges, Polymarket has attracted considerable investor interest. The platform had already secured over $100 million in previous investments, including a quiet $50 million round earlier in 2025.

This latest capital injection comes on the heels of Polymarket’s June partnership with Elon Musk’s social platform X. The collaboration integrates Polymarket’s prediction data with insights from X’s AI chatbot Grok, aiming to enhance how users consume real-time market forecasts.

Polymarket gained momentum during the 2024 U.S. presidential election, when it processed over $2.5 billion in trading volume in November alone. Users wagered cryptocurrency on a diverse range of real-world outcomes — from geopolitical events and macroeconomic trends to local U.S. politics and elections. Live markets currently include predictions on a possible U.S. recession in 2025, the passage of the GENIUS Act stablecoin bill, and a potential Russia-Ukraine ceasefire in July.

According to Polymarket’s analytics dashboard, the platform now hosts over 21,000 active markets and 20 million open positions, engaging a global user base of more than 1.2 million traders. It has also seen over $700 million in trading volume, with Dune Analytics reporting $1.1 billion in monthly trades for May — a 56% drop from the platform’s peak in November 2024.

 

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Tags: Peter ThielPolymarket
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