Polymarket in talks to raise $400M at $15B valuation as prediction markets go mainstream

Polymarket is back in the spotlight, and this time the numbers are hard to ignore. The crypto-based prediction platform is in advanced discussions to raise about $400 million at a $15 billion post-money valuation, according to an exclusive report from The Information. The talks come just weeks after a massive capital injection from Intercontinental Exchange, signaling that traditional finance is no longer sitting on the sidelines.

The new round builds directly on ICE’s recent $600 million investment, announced last month without pricing details. People familiar with the matter told The Information that Polymarket is lining up additional strategic investors, with the full raise potentially reaching $1 billion. If completed at the proposed terms, it would mark one of the largest funding rounds for a crypto-native trading platform this year.

The predictions site Polymarket is talking to investors about raising $400 million in funding at a valuation of about $15 billion, including the new money,” The Information reported, citing two people familiar with the talks.

“The financing would add to the $600 million already invested in the funding round by Intercontinental Exchange, the parent of the New York Stock Exchange, which the exchange announced last month without disclosing the valuation. It’s looking to add additional strategic investors beyond Intercontinental Exchange to the round, which could total $1 billion,” The Information added, citing a second person.

ICE’s involvement has quickly reshaped the company’s trajectory. In March 2026, the exchange operator committed $600 million in fresh capital as part of a broader equity deal. That followed an earlier $1 billion tranche agreed in October 2025, as part of a plan that could see ICE deploy up to $2 billion into Polymarket. The firm is going further, with plans to buy up to $40 million in existing shares from early investors, pushing its total exposure close to $1.6 billion.

That level of backing is already moving the valuation needle. Earlier estimates tied to ICE’s initial investment placed Polymarket in the $8-$9 billion range. The current discussions suggest a sharp jump, driven by growth outpacing expectations.

The momentum is showing up in the numbers. In March 2026, Polymarket recorded $10.57 billion in monthly trading volume, its first time crossing the $10 billion mark. That figure represents a 33% increase from February and more than doubles its previous peak during the 2024 U.S. election cycle. For the first quarter of 2026, total volume reached about $26.2 billion, up more than 90% from the prior quarter.

What started as a niche crypto experiment has turned into a high-volume trading venue where users bet on real-world outcomes using USDC. The platform runs on Polygon, which helps keep transaction costs low and speeds up high. Recent updates have made it easier for U.S. users to participate, helped by clearer regulatory signals. At the same time, partnerships tied to the ICE relationship are opening the door to institutional clients seeking structured access to predictive data.

From Crypto Curiosity to Wall Street Darling: Polymarket Eyes $15B Valuation in New Funding Talks

Polymarket’s rise traces back to 2020, when founder Shayne Coplan launched the platform as an alternative to traditional betting markets. Early support came from firms like Polychain Capital and Founders Fund, with total funding before the ICE deal sitting around $279 million. The latest wave of capital has pushed Coplan into rare territory, making him one of the youngest self-made billionaires following ICE’s entry.

The company is now exploring its next phase. Coplan has hinted at a potential $POLY token, which could reward traders and liquidity providers if launched. Details remain unclear, though the idea fits neatly into the broader playbook seen across major crypto platforms.

Competition is heating up. Rivals like Kalshi are gaining traction as regulators begin to take a clearer stance on event-based contracts. The sector is moving closer to the financial mainstream, with firms pitching prediction markets as tools for price discovery rather than simple betting.

If the current round closes, Polymarket would sit at the center of that shift. The company has declined to comment publicly, consistent with its approach during active fundraising. Behind the scenes, the message is clear: the line between Wall Street and crypto-native markets is fading, and large institutions are now shaping what comes next.