TechFlow reported on September 24, citing The Information, that prediction market Polymarket is considering issuing a token to raise more than $50 million to support operations of its cryptocurrency-based prediction market. According to sources, investors in this round will receive token warrants, granting them the right to purchase tokens when Polymarket eventually launches its token. Polymarket may use these tokens to verify real-world event outcomes, although no final decision has been made.
Previous report, in May 2024, Polymarket completed a $45 million Series B funding round led by Peter Thiel's Founders Fund, with participation from existing investors including 1confirmation and ParaFi, as well as Ethereum co-founder Vitalik Buterin, Dragonfly, and Eventbrite co-founder Kevin Hartz.
