Polymarket joins the unicorn ranks... $1 billion valuation and $200 million investment on the horizon

Polymarket, a blockchain-based prediction market platform, has made it into the "unicorn" category despite being banned in the United States.
Reuters and Bloomberg announced on the 24th (local time) that Polymarket will raise $200 million in new investments at a corporate value of about $1 billion.
The latest round of funding was led by Founders Fund, led by billionaire entrepreneur Peter Thiel.
The deal was led by the U.S. Federal Bureau of Investigation (FBI) in November 2023. PolyMarket was the subject of a 2019 investigative journalism fund led by founder Shayne Coplan.
The investigation also included the seizure of electronic devices belonging to Mr. Coplan, due to fears that users in the United States may be approaching him.
According to reports, Polymarket has attracted a total of more than $100 million (about 14.6 billion yen) in investments so far, including a private investment of $50 million (about 7.3 billion yen) earlier this year.
The latest round of investment comes after Polymarket signed a strategic partnership with Elon Musk's social media platform X earlier this month.
The two companies will integrate Polymarket's prediction market function and the analysis function of the AI chatbot "Grok" to promote public participation in various political and economic issues in the future.
The plan is to strengthen the underlying prediction service.