Peter Thiel's fund leads the investment, Polymarket's valuation reaches one billion dollars.

The prediction market platform Polymarket is about to complete an investment of over $200 million, led by Silicon Valley investment veteran Peter Thiel's Founders Fund, bringing the company's valuation to $1 billion.

Polymarket raises $200 million in refinancing, valuing the company at $1 billion.

According to a Bloomberg report citing informed sources, Polymarket is about to complete an investment of over $200 million, led by Founders Fund, the investment firm of Silicon Valley veteran Peter Thiel, which will bring the company's valuation to $1 billion.

Polymarket has previously raised more than $100 million, including a $50 million investment earlier this year. Polymarket's competitor is Kalshi, another event betting platform funded by Y Combinator and Sequoia Capital.

Polymarket's popularity surges due to the elections, betting on everything, nothing is surprising.

Last year, Polymarket's popularity soared, with people around the world using cryptocurrencies to bet on the outcome of the U.S. presidential election. From politics to entertainment, the topics of the Polymarket forecasting platform cover a wide range of areas. Cumulative transaction volume exceeded $8 billion in 2024. The recent betting market over who will win the Democratic nomination for mayor of New York and whether the US will fall into recession in 2025 has also been active.

( From presidential elections to aliens: Polymarket prediction market's top 10 hot topics for 2024 )

Polymarket is banned in the United States, and X lists it as an official partner

However, according to an agreement reached with U.S. authorities, Americans have been banned from using the platform since 2022. Nevertheless, Polymarket has become a popular tool for gauging public sentiment on various topics. Musk's social platform X also announced in May that it would partner with the prediction market platform Polymarket, making it the official prediction market partner of X.

(X announced a partnership with Polymarket as the official prediction market partner)

This article states that Peter Thiel's fund led the investment, and Polymarket's valuation reached one billion dollars. It first appeared in Chain News ABMedia.