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Decentralized betting platform Polymarket is finalizing a $200 million funding round that would put the company’s value at around $1 billion, giving it “unicorn” status, Reuters reported.
According to the June 24 report that cited sources familiar with the matter, billionaire entrepreneur Peter Thiel’s Founders Fund will lead the funding round.
Polymarket Raises $100M Despite Multiple Bans
Polymarket has already raised $100 million, which included a $50 million capital injection earlier this year, Bloomberg reported.
The funding round comes after Polymarket announced at the start of June that it partnered with Elon Musk’s X (formerly Twitter). Through this partnership, the companies will try to merge Polymarket’s prediction markets with AI-driven insights from X’s Grok chatbot.
.@polymarket isn’t just turning into a place to bet on world events – it’s becoming a mirror into who knows what before we do…
But lately, that mirror looks rigged – I feel @elonmusk should look into it since they partnered with X.
Thats what I was emphasizing on earlier… pic.twitter.com/nSZjJMkhVt
— Momin (@mominsaqib) June 23, 2025
That’s despite the platform being banned in the US, France, Thailand, Singapore, Taiwan, Belgium and Poland.
In November, the platform was also hit with a search warrant by the FBI, which resulted in authorities seizing founder Shayne Coplan’s personal electronics due to concerns that the platform was potentially giving access to American users.
Activity On Polymarket On The Decline
Over the last few months, trading activity on Polymarket has been on a gradual decline. Data from Dune Analytics shows that the number of daily active traders on the platform stood at 51,930 at the end of March. This metric has since plummeted down to 27,674 as of June 24.
The number of monthly new accounts on Polymarket has also plummeted from 408,804 in February to 145,736 as of May.
Even with the decrease in activity, over 1.18 million traders have opened more than 20 million positions across Polymarket’s 21,175 markets, according to the platform’s data and analytics page.
Some of the most recent markets on the platform relate to whether the Iranian regime will fall this year and the likelihood that the US will experience a recession.
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