Latest news with #FoundersFund
Yahoo
5 days ago
- Business
- Yahoo
Stablecoins Are the ‘Quiet Winners' of Polymarket's Surge: Coinbase Research
As Polymarket seeks a $1 billion valuation in a Founders Fund-led round, the 'quiet winners' may be the stablecoins underpinning its settlement infrastructure, Coinbase analysts wrote in a Friday research report. All of the platform's trades settle in Circle's USDC on Polygon, creating measurable demand for the dollar-pegged token. And while lending protocols lock capital in pools, prediction markets like Polymarket cycle funds at a high velocity — settling, redeploying and transferring balances continuously, the analysts said. The platform has processed more than $14 billion in lifetime trading volume. In May alone, it cleared $1 billion, with daily active traders averaging between 20,000 and 30,000. Meanwhile, in the immediate aftermath of U.S. President Donald Trump's re-election in November 2024, monthly volume soared to $2.5 billion, sparking corresponding spikes in USDC transfers and bridge activity. Such flows demonstrate how stablecoins now power real-time market infrastructure. 'Momentum is likely to accelerate further with a new content partnership with X, positioning prediction markets as viral social content rather than purely financial tools,' the report said. Sign in to access your portfolio
Bloomberg
24-06-2025
- Business
- Bloomberg
Polymarket Is Set to Raise Funding at $1 Billion Valuation
The popular online betting platform Polymarket is finalizing an investment of more than $200 million led by Peter Thiel's Founders Fund, according to people familiar with the matter. The new financing would value the company at about $1 billion not including the money raised, said the people, who asked not to be identified discussing private information. That would give the startup unicorn status, even though its service is banned for American users.
Yahoo
24-06-2025
- Business
- Yahoo
Polymarket on the Verge of Raising $200M at $1B Valuation: Report
Blockchain-based prediction market Polymarket is edging closer to a $200 million raise at a $1 billion valuation, The Information reported, citing people familiar with the plan. Peter Thiel's Founders Fund is said to be leading the round, the report added. The $200 million figure includes $50 million that was raised in previously unannounced funding. According to SimilarWeb, Polymarket notched a record high in terms of website traffic in May with 15.9 million visits, more than rival betting markets FanDuel, DraftKings and Betfair. Polymarket's continued rise comes after a U.S. election year that saw around $8 billion worth of bets placed on the platform. It was also widely cited during the election as a data source for predicting the outcome. According to a Dune data scientist, betting markets on Polymarket predict outcomes with up to 94% accuracy. Earlier this month, Polymarket signed a deal with Elon Musk's xAI company, becoming the official prediction market partner for xAI and X. Last September, a separate report by The Information claimed that Polymarket was looking into launching its own token. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNA
24-06-2025
- Business
- CNA
Polymarket nears Founders Fund-led funding at over $1 billion valuation, source says
Polymarket is close to raising $200 million in a funding round that values the world's biggest prediction market at more than $1 billion, a person familiar with the matter told Reuters on Tuesday. Billionaire Peter Thiel's Founders Fund, an existing investor, is set to lead the round, the person added, requesting anonymity to discuss confidential information. Founded in 2020 by Chief Executive Shayne Coplan, Polymarket has helped popularize event derivatives trading, which involves buying and selling contracts tied to real-world events such as elections, economic data releases or policy decisions. Unlike traditional betting, traders buy and sell shares linked to specific outcomes, with prices for opposing sides together totaling $1. These relatively new and high-risk instruments gained momentum ahead of the 2024 U.S. presidential election, as trading volumes on platforms like Polymarket surged. Polymarket allows users to place bets using cryptocurrency on real-world events. The platform does not currently allow U.S.-based users to trade, in line with guidance from the Commodity Futures Trading Commission. Proponents argue that event derivatives offer a more accurate way to forecast real-world outcomes by harnessing the collective intelligence of traders with financial stakes in their predictions. During the 2024 U.S. presidential election, contracts on Polymarket predicting a Republican sweep surged, even as most traditional media outlets and polls favored Democrat Kamala Harris. Current markets on the platform include questions about whether the Iranian regime will fall this year, if Iran will close the Strait of Hormuz before July, and the likelihood of a U.S. recession in 2025. Polymarket's competitors in the growing event-driven trading space include PredictIt and Kalshi.
Reuters
24-06-2025
- Business
- Reuters
Polymarket nears $200 million raise at over $1 billion valuation, source says
June 24 (Reuters) - Polymarket is close to raising $200 million in a funding round that values the world's biggest prediction market at more than $1 billion, a person familiar with the matter told Reuters on Tuesday. 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.
