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Polymarket aims for $15 billion: record growth in sight!
Polymarket is targeting a company valuation of up to $15 billion as trading volumes break records.
Polymarket aims for $15 billion: record growth in sight!
Polymarket, a leader in the prediction markets space, is seeking an impressive valuation between $12 billion and $15 billion. This represents a notable increase as the previous valuation was $1 billion in June, especially after a $200 million investment initiated by Founders Fund led by Peter Thiel. Recent developments, such as the Intercontinental Exchange's (ICE) investment of up to $2 billion at a valuation of $8 billion, have led to CEO Shayne Coplan now being considered a self-made billionaire.
A key metric for the growth of user activity on the platform is weekly trading volume, which recently exceeded $2 billion - the highest in Polymarket's history. This growth reflects increasing interest in event-specific markets from both retail and institutional traders. Rival Kalshi is also attracting investors and is now valued at over $10 billion.
Expansion into regulated markets
Polymarket and Kalshi are both working to expand into regulated markets. While Kalshi is under the supervision of the Commodity Futures Trading Commission, Polymarket is planning a compliant launch in the US through the acquisition of QCEX. These steps are crucial for sustainable development in an increasingly regulated business area.
In addition to these expansions, Polymarket has formed strategic partnerships, including collaborations with DraftKings and the National Hockey League (NHL). As part of this partnership, Polymarket will act as a clearinghouse for DraftKings' prediction markets and integrate official NHL data.
Technological developments and future financing plans
Polymarket is also expanding its support for blockchain technologies, adding Binance's BNB Chain, while further expanding existing integrations with Polygon and Chainlink. New rounds of funding could help Polymarket accelerate its expansion in the US, meet regulatory requirements and make technological upgrades.
These developments on Polymarket clearly show how dynamic and growth-oriented the prediction markets sector is. How Crypto News reports, the company could become one of the leading platforms in this innovative sector within the next few years.