TL;DR
- Polymarket is close to closing a $200 million funding round that will value the platform at over $1 billion, led by Peter Thiel’s Founders Fund.
- The platform recorded a record 15.9 million visits in May 2025 and handled $8 billion in bets during the 2024 U.S. presidential elections.
- Polymarket signed a deal with Elon Musk’s xAI as its official prediction market and is considering launching its own token.
Polymarket is about to close a $200 million funding round that will value the platform at more than $1 billion.
This round includes $50 million previously raised but unannounced, and it will be led by Founders Fund, Peter Thiel’s investment firm that is already among Polymarket’s investors. Polymarket did not issue any official comments regarding the new capital injection.
Since its founding in 2020, Polymarket has stood out for offering blockchain-based prediction markets. On its platform, users buy and sell contracts tied to real-world outcomes, such as elections, economic data, or political decisions. Unlike traditional betting, prices reflect the collective probability of different scenarios. Due to regulatory reasons, the platform does not allow users based in the United States to trade.
During the 2024 U.S. presidential elections, Polymarket saw a significant increase in trading volume. Contracts predicting a Republican win grew, even though polls and media gave an advantage to the Democratic candidate. This phenomenon highlighted how accurately Polymarket reflects participants’ collective expectations.
Polymarket Partners with Elon Musk and xAI
In May 2025, Polymarket reached a record 15.9 million visits, surpassing traffic on traditional betting platforms like FanDuel, DraftKings, and Betfair. During the U.S. election cycle, approximately $8 billion was wagered on contracts through the platform. Analysts report that Polymarket’s predictions have reached up to 94% accuracy on certain events.
Currently, the market includes questions about the future of the Iranian regime, the possibility of the Strait of Hormuz closing, and the likelihood of a U.S. recession in 2025. In June 2025, the company signed a deal with xAI, Elon Musk’s artificial intelligence firm, to become its official prediction market. Additionally, the company is exploring the launch of its own token, according to previous sources.
Polymarket competes with platforms like PredictIt and Kalshi but is consolidating as the largest blockchain-based prediction market worldwide
