Polymarket in Talks for New Investment at $15 Billion Valuation

Polymarket is seeking an additional $400 million in funding, according to people familiar with the negotiations, after securing $600 million at a $15 billion valuation last month.

The new deal brings the prediction market startup’s value up from $9 billion last year, when Intercontinental Exchange Inc., the parent company of the New York Stock Exchange, took a $1 billion stake in Polymarket in a blockbuster deal. Polymarket, though, is now worth less than the $22 billion valuation that its main rival, Kalshi Inc., fetched in a recent $1 billion fundraising round.