POLYMARKET SEEKS $400M AT $15B VALUATION

Polymarket is seeking $400 million in new funding, according to sources cited by The Information. The valuation increase from $9 billion to $15 billion reflects growing investor interest in prediction markets amid regulatory shifts. The funding round positions Polymarket as a major player in the sector, though below Kalshi's recent $22 billion valuation. Both platforms operate in the prediction market space, which has gained traction following changes in regulatory enforcement. Polymarket operates on Polygon, a layer-2 Ethereum network, enabling users to trade contracts based on future outcomes across politics, sports, and other categories. The platform has processed billions in trading volume. The funding reflects broader venture capital appetite for crypto-native platforms operating in traditionally regulated spaces. Kalshi, which obtained regulatory approval from the CFTC, commands a higher valuation despite operating with different market conditions. Details on the funding round's timeline and lead investors remain unclear.