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.
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