Polymarket is preparing to raise $200 million at a valuation of $1 billion

The prediction market blockchain platform Polymarket is completing a $200 million fundraising round, valuing the company at around $1 billion. Billionaire Peter Thiel's Founders Fund will lead this fundraising round, even though Polymarket has been banned for American users and has been searched by the FBI over concerns about Americans' access rights.

Polymarket has raised over 100 million USD before and recently announced a collaboration with Elon Musk's X social media platform to integrate prediction markets with analysis from the Grok chatbot. The platform allows betting on various scenarios such as the possibility of Israel attacking Iran or the economic recession in America in 2025.

Currently, Polymarket has about 1.2 million traders and a monthly trading volume of around 1.1 billion USD, although it has decreased by 56% compared to November last year.

Polymarket prepares to raise 200 million dollars with a valuation of 1 billion dollars

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