Polymarket discloses past funding rounds totaling $205 million before $2 billion ICE investment
Quick Take
- Polymarket CEO Shayne Coplan says the prediction platform raised $55 million in 2024 and $150 million earlier this year.
- The previously undisclosed rounds were revealed after a $2 billion investment from NYSE parent firm Intercontinental Exchange.
Polymarket CEO Shayne Coplan has disclosed two previously unannounced funding rounds from the past two years, totaling $205 million: a $55 million round in 2024 led by Blockchain Capital at a $350 million valuation, and a $150 million round in 2025 led by Founders Fund at a $1.2 billion valuation.
Coplan said the later round also included investors such as Ribbit, Valor, Point72 Ventures, SV Angel, 1789, 1confirmation, Coinbase, and Dragonfly, alongside several high-profile angels. These bring Polymarket's total prior funding (including earlier disclosed rounds, such as a $4 million seed round in 2020 and $70 million in May 2024) to around $279 million before the ICE deal.
The revelation follows an agreement with NYSE parent firm Intercontinental Exchange to invest up to $2 billion in Polymarket, a deal that would value the company at $9 billion post-money. According to ICE’s statement on its stake, the prediction market had a roughly $8 billion pre-investment valuation as well.
Polymarket, founded in 2020, operates a crypto-native prediction venue where users trade yes/no outcomes across a wide range of topics, including politics, markets, and culture. The partnership makes ICE a global distributor of Polymarket’s event-driven data and outlines future tokenization work between the companies as well.
“Shayne Coplan has assembled a team at Polymarket to create a user-driven company relentlessly focused on product, building usage and distribution,” Jeffrey C. Sprecher, ICE chair and CEO, said. He added that “there are opportunities across markets which ICE, together with Polymarket, can uniquely serve.”
The ICE deal was shared amid rising institutional interest in event-based trading. Last month, Polymarket hit a new all-time high for markets created on the platform. It also caps a period in which the firm has weighed new financing on the back of growing competition from regulated rival Kalshi and planned U.S. re-entry.
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