Polymarket Seeks $400M Funding at $15B Valuation

Polymarket officially launched the trading of heavily leveraged 'perps' (perpetual futures) contracts on Tuesday, marking its formal entry into the derivatives market. This operational milestone comes as the platform remains in advanced talks to raise $400 million at a $15 billion valuation. Notably, Polymarket's valuation still trails its competitor Kalshi’s $22 billion tag, a gap analysts attribute to Polymarket’s deep-rooted ties to the crypto sector. This expansion coincides with major exchanges like Binance and Coinbase integrating prediction market access, intensifying industry competition. Polymarket also recently bolstered its reach by integrating Bitget Wallet, tapping into over 90 million users. These developments signal the evolution of blockchain-based prediction platforms into comprehensive financial hubs attracting robust institutional interest.