Polymarket company profile: valuation, funding & revenue

This Polymarket company profile covers the company's valuation, revenue, funding rounds, investors and history. Polymarket works in crypto and fintech, with a focus on prediction markets. It was founded in 2020 and is headquartered in New York, New York, United States. Its latest valuation on record is About US$15 billion (reported) (April 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Polymarket timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2020 — Polymarket is founded in New York by Shayne Coplan (CEO).
• Oct 2025 — Strategic investment: Up to US$2B, valuing the company at US$9B post-money. Investors: Intercontinental Exchange (ICE).
• 2026 — Later reports: Reports described a later raise targeting a valuation of about US$20 billion and an additional US$600 million from ICE; terms not independently confirmed.
• October 2025 — Earlier undisclosed funding: About US$205 million raised over two earlier rounds, disclosed in 2025.

Investors

Overview

Polymarket is the world's largest prediction market by trading volume. Users buy and sell shares in the outcome of real-world events, such as elections, sports results, economic data releases, court rulings, product launches and geopolitical developments. Each share pays out US$1 if the event happens and nothing if it doesn't, so its price, between zero and one dollar, can be read as the market's estimate of the probability. During the 2024 US presidential election Polymarket's odds were widely quoted by media and investors, and it has since become a closely watched source of real-time forecasts.

Shayne Coplan founded Polymarket in 2020 at the age of 21. The company is based in New York. Polymarket was built on blockchain technology: trades settle in USDC, a dollar-backed stablecoin, on the Polygon network, and markets are resolved using a decentralised oracle system. That design let it grow globally, but it also brought it into conflict with US regulators in its early years.

Regulatory history

In 2022 Polymarket settled with the US Commodity Futures Trading Commission (CFTC), which said it had offered unregistered event-based swaps. It paid a US$1.4 million penalty and blocked US users, continuing to operate internationally. In November 2024, after the election, the FBI searched Coplan's home as part of an investigation; in 2025 the Justice Department and the CFTC closed their investigations without charges. Polymarket then acquired QCEX, a CFTC-licensed exchange and clearinghouse, to provide a regulated route back into the US market, and began relaunching for American users. Prediction markets remain controversial with some state regulators, particularly over sports contracts, which states argue resemble gambling.

The ICE investment

In October 2025 Intercontinental Exchange, owner of the New York Stock Exchange, agreed to invest up to US$2 billion in cash in Polymarket at about US$8 billion pre-money, or roughly US$9 billion post-money. As part of the deal, ICE became a global distributor of Polymarket's event-driven data to institutional clients, and the two companies agreed to work together on tokenisation initiatives. The investment brought a major traditional financial institution into prediction markets and was a turning point for the sector's legitimacy. Polymarket also disclosed that it had previously raised about US$205 million in two rounds that hadn't been publicly announced, with backers including Founders Fund.

Later reports said ICE added further capital and that Polymarket sought a new round at a valuation of about US$20 billion. We haven't confirmed those terms from primary sources, so we use the October 2025 figure.

How Polymarket makes money

For most of its history Polymarket charged little or no trading fees, prioritising growth in users and liquidity. Its regulated US exchange can charge fees on trades, and data licensing through partners such as ICE is another revenue stream. The company doesn't publish revenue, so we show it as not disclosed.

Competition

Polymarket's main rival is Kalshi, a CFTC-regulated US exchange that has grown rapidly, especially in sports contracts, and was reported to have raised at a valuation above Polymarket's. Other competitors include Robinhood, which offers event contracts through Kalshi, sports betting companies such as DraftKings and FanDuel entering prediction markets, crypto exchanges, and smaller platforms. Polymarket's advantages are its global user base, deep liquidity in political and world events, and its brand as the reference source for real-time odds.

Polymarket at a glance

Polymarket is a New York prediction market founded in 2020 by Shayne Coplan. Users trade on the outcomes of events using a stablecoin. After settling with the CFTC in 2022 and blocking US users, it bought the licensed exchange QCEX to return to the US. In October 2025 Intercontinental Exchange agreed to invest up to US$2 billion at about US$9 billion post-money.

Why prediction markets attract investors

Prediction markets aggregate the views of many people who have money at stake, which often produces more accurate and faster-updating forecasts than polls or pundits. For institutions, that data can be valuable for trading, risk management and research, which explains ICE's interest in distributing it. For users, markets offer a way to hedge or speculate on events that matter to them. Volumes have grown sharply since 2024, and regulators' more permissive approach has opened the US market to large new players.

Criticisms and risks

• Gambling concerns: critics argue that markets on sports and entertainment are gambling under another name, and several US states have challenged them.
• Manipulation and insider trading: markets on events that a small group can influence or know about in advance raise integrity questions.
• Resolution disputes: deciding exactly whether an event happened can be contentious, and disputed outcomes have angered users.
• Regulatory change: a future change in US policy could restrict the products prediction markets can offer.

Questions for users and businesses

• Is the platform legal and licensed where you live?
• How are markets resolved, and what happens in a dispute?
• What fees apply, and how liquid are the markets you're interested in?

How a Polymarket trade works

Suppose a market asks whether a central bank will cut interest rates at its next meeting, and "Yes" shares trade at 30 cents. A user who believes the chance is higher can buy "Yes" shares at 30 cents each. If the bank cuts rates, each share pays US$1, a profit of 70 cents per share; if it doesn't, the shares expire worthless. Users can also sell before the outcome is known if the price moves in their favour. Prices are set by users trading with each other through an order book, not by the platform, which is a key difference from traditional bookmakers that set odds and take the other side of bets.

Latest developments (October 2026)

Polymarket was reported to have raised about US$1 billion at roughly US$15 billion in April 2026, including investment from D.E. Shaw and G Squared, according to The Block, though some reports described this as talks. Bloomberg later reported it was seeking a valuation above US$20 billion, according to The Standard. Its main rival Kalshi raised at US$22 billion in May.

What to watch

Watch for confirmation of new funding, growth of the regulated US product, state legal challenges, competition with Kalshi and sports betting companies, and institutional use of Polymarket data. Our guide to the largest private crypto companies compares Polymarket with other crypto-native businesses.

Takeaways

Traders and analysts can use prediction market prices as a real-time signal. Founders can see how a company can return from regulatory trouble through licensing and partnerships. Investors should weigh fast growth against the legal uncertainty that still surrounds event contracts.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. The Block
2. The Defiant
3. The Block
4. Covers