Decentralized prediction market Polymarket is in early discussions for a new funding round that could value the company at as much as $15 billion, according to a Bloomberg report citing anonymous sources. The talks signal intense investor appetite for blockchain-based information markets and could nearly double the platform’s recent valuation.

This development follows a major investment earlier this year from Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. That deal valued Polymarket between $8 and $9 billion, underscoring the growing conviction that decentralized prediction markets represent a significant new financial frontier.

Surging Growth and Market Influence

Founded in 2020, Polymarket allows users to trade on the outcomes of real-world events, including political elections, economic indicators, and global conflicts, using cryptocurrency. Its transparent and decentralized design has established it as one of the world’s most recognized on-chain prediction platforms.

The platform has seen a dramatic spike in activity and trading volumes since mid-2024, driven by high-profile global events. Analysts suggest that Polymarket’s traction reflects a broader convergence of Decentralized Finance (DeFi) and traditional data markets. It’s increasingly viewed not just as a betting venue but as a powerful information hub that aggregates crowd-sourced sentiment into actionable probabilities.

Institutional Interest and Regulatory Hurdles

The involvement of ICE provided major institutional validation for Polymarket and the wider prediction market sector. The current funding talks are reportedly attracting interest from both crypto venture firms and traditional financial investors exploring the intersection of blockchain and market forecasting.

Despite its momentum, Polymarket continues to navigate a complex regulatory landscape. The company previously settled with the Commodity Futures Trading Commission (CFTC) in 2022 for operating unregistered event markets. Since then, Polymarket has restructured its platform to enhance compliance and focus on its international user base.

If finalized, the upcoming funding round would establish Polymarket as one of the most valuable decentralized applications (dApps) in the world and provide substantial capital for its global expansion.