Polymarket set for $200M raise at $1B valuation: Reports

Betting platform Polymarket is reportedly set to be valued at $1 billion in a $200 million raise led by Peter Thiel’s Founders Fund.

Blockchain prediction market platform Polymarket is finalizing a $200 million funding round that would value the company at approximately $1 billion, according to reports.

Billionaire entrepreneur Peter Thiel’s Founders Fund is set to lead Polymarket’s funding round, Reuters and Bloomberg reported on Tuesday, citing people familiar with the matter.

The $1 billion valuation would give the company “unicorn” status despite it being banned for American users. The FBI even executed a search warrant on the platform in November, seizing founder Shayne Coplan’s electronics over concerns that Polymarket was potentially giving access to Americans.

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