Forecast market Polymarket strives for new financing that could increase its appreciation to $ 10 billion, as Business Insider reported on 12 September.
Two people with knowledge of the case said that the valuation discussions represent at least a triple increase in relation to the $ 1 billion polymarket that has been reached in a financing round that was closed this summer.
According to one source, at least one investor offered a term sheet that the company appreciated at $ 10 billion. A spokesperson for Polymarket refused to comment on the financing discussions.
Strategic developments
The reported valuation thrust follows a series of strategic developments that position polymarket for an American comeback.
The Commodity Futures Trading Commission has given the approval of the legal approval for the platform to resume American activities via a no-action letter issued on 3 September to QCX LLC, the regulatory partner of Polymarket, acquired for $ 112 million in July.
The regulatory Greenlight enables Polymarket to operate event contracts while maintaining compliance with the regulations of the federal derivatives. It also marks a return after the platform had stopped American activities in 2022 after a CFTC arrangement of $ 1.4 million on non -registered derivatives trade.
Moreover, Donald Trump jr. In August as a Polymarket’s Advisory Board when his risk capital company 1789 Capital made a strategic investment in the platform.
The partnership adds political expertise while Polymarket is preparing for American market input. Trump Jr. Recently praised the platform for cutting “Media Spin and so -called experts opinion.”
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Polymarket CEO Shayne Coplan characterized the Capital Partnership from 1789 as the strengthening of the role of the company as a trusted source of information, while the founder of the company, Omeed Malik, praised the intersection of polymarket of financial innovation and free speech.
User growth raid
Polymarket works as a prediction market where users place bets on results ranging from political elections to cultural events, which generates market -driven predictions.
Data from a dune-dashboard from Varrock founder Richard Chen show that polymarket from 12 September $ 8.5 billion from the year to date and surpassed the total volume of last year.
The increase in trade volume takes place despite a malaise with active and new users. The monthly active traders of polymarket peaked in January at 454,664 and gradually fell to reach the 226,442 of August after a decrease of 20% from July.
In the meantime, new users fell 33% between July and August and reached 66,160, the lowest level in a year.
The regulatory preparations of the platform and controversial advisory additions position it for a potential pivot point in these figures with an American expansion.