The post Polymarket CEO Shayne Coplan Reveals Previously Undisclosed $205M Funding appeared first on Coinpedia Fintech News
Polymarket, an American crypto-based prediction market, is turning heads with record growth, major funding rounds, and high-profile investors. From a niche crypto platform, it has evolved into a global marketplace where users trade on event outcomes.
The Polymarket CEO Shayne Coplan recently had an interesting disclosure. Read on.
Polymarket Secures Major Funding Rounds
Coplan shared that earlier this year, Founders Fund led a $150M round into Polymarket, valuing the company at $1.2B. The round also included Ribbit, Valor, Point72 Ventures, SV Angel, 1789, 1confirmation, Blockchain Capital, Coinbase, Dragonfly, and angels like Ari Emanuel, Chase Lochmiller, Glenn Dubin, Gaurav Ahuja amongst others.
Last year, ahead of the election, Blockchain Capital led a $55M round into Polymarket, valuing the company at $350M. Other participants included Founders Fund, 1789, 1confirmation, Abstract, Coinbase, Dragonfly, ParaFi, SV Angel, and several angel investors.
This highlights strong investor confidence in Polymarket, with top-tier venture funds investing, signaling long-term potential in the company.
ICE Invests $2B in Polymarket
This comes after Intercontinental Exchange, a leading global technology and data provider, announced a strategic investment in Polymarket. ICE will invest up to $2 billion, valuing Polymarket at about $8 billion pre-investment.
The partnership will also make ICE a global distributor of Polymarket’s data and involve collaboration on future tokenization projects.
Jeffrey C. Sprecher, ICE Chair and CEO praised Polymarket’s team for building a user-focused product that’s growing in adoption and reach. The company sees working with ICE as a major step toward making prediction markets a mainstream part of finance.
ICE’s investment shows strong confidence in Polymarket as it prepares to re-enter the U.S. The company recently got CFTC approval to operate in the U.S., after its acquisition of a licensed derivatives exchange.
Polymarket Hits Records, Gains High-Profile Backing
Polymarket lets users share their views on events by buying and selling shares of possible outcomes. Every trade is matched peer to peer through smart contracts, and markets grow as more people participate. It has attracted a global audience interested in politics, business, culture, sports, and current events.
The company has grown from a niche crypto prediction platform into a leading decentralized finance startup. It hit a record 13,800 new markets in August and is backed by tech billionaires like Peter Thiel and Joe Gebbia. In August, it raised $135 million in a funding round led by Thiel’s Founders Fund, reaching a $1 billion valuation.
Donald Trump Jr. has also invested in Polymarket and joined its advisory board.“Polymarket is the largest prediction market in the world, and the U.S. needs access to this important platform,” he said.