Key Takeaways:
- Polymarket is reportedly in advanced talks to raise $400 million at a $15 billion valuation, per The Information.
- ICE has already invested over $1.6 billion in Polymarket since October 2025, building on an $8 billion pre-money deal.
- Polymarket hit a record $10.57 billion in monthly trading volume in March 2026, with expansion capital next.
Polymarket Seeks $400M Funding Round, According to The Information Sources
The Information report cited people familiar with the matter and noted that the round has not been finalized, meaning terms could still change. Polymarket is also seeking additional strategic investors beyond its existing backers, and if the round expands, total new capital could reach $1 billion.
The talks build on a major investment from Intercontinental Exchange, the parent company of the New York Stock Exchange (NYSE). In October 2025, ICE announced plans to invest up to $2 billion in Polymarket at an approximately $8 billion pre-money valuation. The arrangement included an equity stake and a plan for ICE to distribute Polymarket’s event-driven data as market sentiment indicators.
ICE completed a $600 million direct cash investment in Polymarket on March 27, 2026, following an earlier $1 billion direct investment in October 2025. ICE also planned to purchase up to $40 million in securities from existing holders, bringing its total commitment to more than $1.6 billion.
The new $400 million raise, according to the report, is being sought at a valuation roughly 67% above the post-money figure implied by the October 2025 ICE deal, reflecting growth in trading activity and platform reach over the past several months.
Polymarket operates as the world’s largest decentralized prediction market, letting users trade on the outcomes of elections, sports events, geopolitical developments, and crypto prices using cryptocurrency. The platform runs onchain, giving participants access to real-time odds and transparent settlement.
The prediction marketplace platform recorded its first $10 billion-plus monthly trading volume in March 2026, reaching approximately $10.57 billion, with daily peaks near $478 million. In February 2026, monthly volume exceeded $7 billion, with a single-day high of $425 million. Trading activity into April 2026 has remained elevated across thousands of active markets.
Polymarket, which operates through the registered entity Blockratize, Inc., has raised over $2.3 billion in cumulative capital across multiple rounds dating back to a roughly $4 million seed in 2020. A $55 million round in 2024 valued the company at approximately $350 million. A $150 million round in early 2025, led by Founders Fund, valued it at $1.2 billion.
Competitor Kalshi recently reached a valuation of approximately $22 billion in its own funding round, reflecting broad investor interest in the prediction market sector. Kalshi operates as a regulated exchange in the United States, while Polymarket holds a global user base and leads in onchain trading volume.
Prediction markets expanded sharply in 2025 and into 2026, driven by mainstream attention following the 2024 U.S. elections, growing institutional participation, and clearer regulatory signals in certain jurisdictions. ICE’s involvement has given Polymarket added credibility with traditional finance firms and potential pathways through the regulatory process.
If the current round closes at The Information’s reported terms, it would represent another significant step in the platform’s growth trajectory. The capital is expected to fund product development, expansion efforts, and competitive positioning in a sector where projections point toward hundreds of billions in annual volume industry-wide.
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