The prediction market market is looking for new funds that could increase its valuation to $ 10 billion, as Business Insider reported on September 12.
Two people with knowledge of the matter said that the valuation discussions represent at least one triple the Polymeket of $ 1 billion achieved in a round of financing that closed this summer.
According to a source, at least one investor offered a term sheet that valued the company at $ 10 billion. A Polymeket spokesman declined to comment on financing conversations.
Strategic developments
The increase in the reported assessment follows a series of strategic developments that position the polymercado for a return of the US.
The Basic Products Trade Commission granted the regulatory approval of the platform to resume the operations of the United States through a non -action letter issued on September 3 to QCX LLC, Polymket regulatory partner, acquired for $ 112 million in July.
The regulatory green light allows Polymket to operate event contracts while maintaining compliance with federal derivative regulations. It also marks a statement after the platform ceased the operations of the United States in 2022 after a CFTC agreement of $ 1.4 million on the unregistered derivatives trade.
In addition, Donald Trump Jr. joined the Polymket Advisory Board in August when his Risk capital firm 1789 Capital made a strategic investment on the platform.
The association adds political experience as Polymket prepares for the entry of the US market. Trump Jr. recently praised the platform to reduce the “media turn and the so -called expert opinion.”
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The Polymarket CEO, Shayne Coplan, characterized the capital association of 1789 as reinforcing the company’s role as a reliable source of information, while the firm’s founder, Omoed Malik, praised the intersection of financial innovation and the free expression of Polymarket.
User growth drop
Polymket operates as a prediction market where users make bets in the results ranging from political elections to cultural events, generating market -driven predictions.
The data of a dune board of the founder of Varrock, Richard Chen, show that Polymket crossed $ 8.5 billion in annual negotiation volume to the date of September 12, exceeding the total volume of last year.
The increase in negotiation volume occurs despite a fall in active and new users. Polymarket monthly active merchants reached their maximum point in January at 454,664, gradually falling to reach August 226,442 after a 20% drop since July.
Meanwhile, new users fell 33% between July and August, reaching 66,160, the lowest level in a year.
The regulatory preparations of the platform and the additions of high profile advice position it for a potential axis in these numbers with an American expansion.
