The company invested $300 million in the platform at a $21 billion valuation. Its total investment in Polymarket has now risen to $500 million. This makes the firm one of the largest backers in the prediction markets sector, behind NYSE parent ICE ($2 billion). ICE owns 22% of all outstanding shares, or 14% on a fully diluted basis.
Polymarket’s latest valuation is lower than that of its competitor Kalshi ($22 billion). However, the company has raised a total of $3.9 billion, compared with Kalshi’s $2.8 billion. Polymarket was the first to alert Trump’s team that they were leading in the presidential election.