Polymarket was reportedly finalising a funding round of more than $200m led by Founders Fund. The proposed investment would value the company at about $1bn before the new capital; Polymarket and Founders Fund representatives declined to comment, according to the report.
The reported funding round could provide Polymarket with new capital at a proposed valuation of about $1bn.
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Polymarket is raising $1bn at a reported $21bn valuation. The report identified 1789 Capital as the round’s lead investor.
Polymarket is seeking new funding at a $20bn valuation, according to Bloomberg reporting. The report follows an earlier reported $1bn round valuing the exchange at $15bn.
XO Market raised $6 million in a seed round, the company said, with backing from Coinbase Ventures, 20VC, Picus Capital, Venture Together and angel investors. The company said its platform lets users create markets; it reported more than $150 million in trading volume, over 30,000 users and more than 600 user-created markets since its mainnet beta launch.
Polymarket is reportedly seeking to raise about $400m at a potential $15bn valuation. The report also says weekly trading volume has exceeded $1bn and that Intercontinental Exchange has invested in the platform and plans to offer its data to investors.
The Indian Gaming Association said it plans to raise $3m to $5m from tribes to fund a lawsuit against the Commodity Futures Trading Commission over sports prediction markets. The proposed case would allege that the agency is not enforcing rules that prohibit sports betting, while the IGA also backs legislative action. Its board adopted a resolution opposing regulation of event contracts, including sports-related prediction markets.