Polymarket nears $200 million raise at over $1 billion valuation, source says
Billionaire Peter Thiel's Founders Fund is set to lead the round, the person added, requesting anonymity to discuss confidential information.
Polymarket, founded in 2020 by CEO Shayne Coplan, allows people to place bets using cryptocurrency on real-world events.
Event contracts have surged in popularity since the U.S. presidential election, letting traders bet on specific outcomes across sports, entertainment, politics and the economy.
The company declined to comment on the funding round.
The Information first reported the news on Tuesday.
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