Polymarket Aims for Billions: Growing as a Giant in the Prediction Market

Polymarket Aims for Billions: Growing as a Giant in the Prediction Market

The future of prediction markets is looking increasingly ambitious. Polymarket, one of the most prominent platforms in the space, is preparing for a major jump that could increase its value by up to tenfold. According to Bloomberg, the startup is in talks with investors to raise between $12 billion and $15 billion, which would take its current valuation from around $10 million to a staggering $15 billion in just four months.

This potential builds on previous successful funding rounds. In June, Polymarket raised $200 million from funds led by Peter Thiel’s Founders Fund, valuing it at $1 billion. Then, earlier this month, the parent company of the New York Stock Exchange, ICE, announced plans to invest up to $2 billion in the platform at a valuation of $8 billion.

And a new rival is emerging on the scene. Kalshi, one of Polymarket’s main competitors, is also in talks for funding that could value it at more than $10 billion. In recent weeks, Kalshi has more than doubled its valuation from $5 billion to $300 million.

Expanding partnerships and integrations with major players

Polymarket is further strengthening its position with new partnerships. The company recently announced a partnership with DraftKings, a leading sports betting platform, which plans to use Polymarket as a clearinghouse for its entry into prediction markets. This will give sports fans and bettors access to new analysis and forecasting capabilities.

Not only that, the National Hockey League (NHL) has become an official partner of Polymarket and Kalshi, confirming the growing interest of large institutions in prediction technologies. These agreements bring the possibility of using prediction markets as a tool for analysis and forecasting within the sports industry.

Innovative Integration with OpenAI’s World Project

A major step forward is the collaboration with the World Project, formerly known as Worldcoin. OpenAI CEO Sam Altman announced that his initiative is expanding its reach into the world of prediction markets. The World App, which combines a digital wallet with a decentralized World ID identification system, now integrates the Polymarket platform. This will allow users to access prediction markets more easily and securely, further expanding their reach and relevance.

Record Interest in Prediction Markets

Prediction markets around the world are experiencing a record period. According to data from Dunedata via Dune Analytics, weekly trading volumes exceeded $2 billion in mid-October, the highest value in the market’s history. Polymarket recorded trading volumes exceeding $1 billion this week, representing more than half of the total market volume. Competitor Kalshi recorded almost $950 million, indicating the ever-growing popularity and trust in the world of prediction technologies.

The outlook for the future is clear: Polymarket has the potential to become one of the largest players in the field of prediction markets, with a value that could reach tens of billions of dollars within a few months. With the expansion of partnerships, strategic investments and growing public interest, it is clear that a period of dynamic growth and innovation in the field of predictions and data analytics lies ahead.

*This is not an investment recommendation.

The Coingarage Team