Quick Breakdown
- Polymarket seeks a $12–$15B valuation, up from $1B in June.
- ICE’s $2B investment cements institutional confidence in prediction markets.
- Trading volumes hit record highs, signaling booming investor demand.
Polymarket targets multi-billion valuation in fresh funding talks
Investor appetite for prediction markets is heating up as Polymarket, one of the sector’s biggest players, reportedly enters early discussions to raise fresh capital at a valuation ranging between $12 billion and $15 billion, according to an October 23 Bloomberg report citing sources familiar with the matter.
If finalized, the new valuation would represent a tenfold jump from June when Peter Thiel’s Founders Fund led a $200 million round that pegged Polymarket’s worth at just $1 billion.
Earlier this month, Intercontinental Exchange (ICE) the parent company of the New York Stock Exchange, agreed to invest up to $2 billion in Polymarket at an $8 billion valuation. The deal made CEO Shayne Coplan the youngest self-made billionaire and strengthened Polymarket’s ties with traditional financial institutions.
This partnership underscores how prediction markets are moving from the crypto niche to the mainstream, attracting both Wall Street firms and retail traders.
Trading activity hits record levels
Polymarket’s rapid rise mirrors the sector’s explosive growth. Weekly trading volumes hit $2 billion for the week ending October 19 — the highest in the company’s history.
Competitor Kalshi is also seeing mounting investor attention, with offers valuing it above $10 billion, more than double its previous round. Both firms are pursuing regulated expansions, with Kalshi operating under CFTC oversight, while Polymarket is preparing a compliant U.S. launch through its acquisition of QCEX earlier this year.
Strategic partnerships boost market reach
To strengthen its market position, Polymarket recently unveiled collaborations with DraftKings and the National Hockey League (NHL) — marking the first major U.S. sports league partnerships in the prediction market space.
We’re honored and proud to be named the Official Prediction Market Partner of the NHL.
You can now trade with no fees, no house, & no limits. pic.twitter.com/XuFOboiklY
— Polymarket (@Polymarket) October 22, 2025
Under the partnership, Polymarket will serve as a clearinghouse for DraftKings’ prediction markets and integrate official NHL data into its trading platform. The firm has also expanded its blockchain ecosystem by adding Binance’s BNB Chain to existing integrations with Polygon and Chainlink.
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