Polymarket is planning to re-enter the U.S. market and seeking new funding at a valuation of up to $10 billion
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Polymarket is planning to re-enter the U.S. market and seeking new funding at a valuation of up to $10 billion
According to Cointelegraph, blockchain prediction market platform Polymarket is planning a return to the U.S. market and is seeking new funding. Sources indicate that its valuation in this round could reach at least $3 billion, with one source revealing that an investor's term sheet valued the company as high as $10 billion. The company previously raised $200 million in June, led by Peter Thiel's Founders Fund. Polymarket had been barred from serving U.S. users since 2022 after reaching a settlement with the U.S. Commodity Futures Trading Commission (CFTC). In July this year, the company acquired Florida-based derivatives exchange QCX, paving the way for its U.S. re-entry. In September, the CFTC issued a no-action letter to QCX, providing regulatory relief for event contracts.
Navigating Web3 tides with focused insightsTechFlow, Sept. 13 — According to Cointelegraph, blockchain prediction market platform Polymarket is planning a return to the U.S. market and is seeking new funding. Sources indicate that the company's valuation in this round will reach at least $3 billion, with one investor’s term sheet reportedly valuing the company as high as $10 billion. The company previously raised $200 million in June, led by Peter Thiel’s Founders Fund.
Polymarket was barred from serving U.S. users in 2022 after reaching a settlement with the U.S. Commodity Futures Trading Commission (CFTC). In July this year, the company acquired Florida-based derivatives exchange QCX, paving the way for its U.S. re-entry. In September, the CFTC issued a no-action letter to QCX, providing regulatory relief for event contracts.
