Polymarket’s $200 Million Raise Marks Crypto’s Newest Unicorn
Polymarket has reached unicorn status with a $1 billion+ appraisal and skyrocketing trade volume. A crucial X collaboration boosts its influence amid legal headwinds. The post Polymarket’s $200 Million Raise Marks Crypto’s Newest Unicorn appeared initially on BeInCrypto.
Polymarket, the world’s leading decentralized forecast platform, is close to completing a $200 million funding round that would push its evaluation beyond $1 billion. This turning point would position the platform into the prominent “unicorn” club. Furthermore, Polymarket has just recently seen a rebound in trading volume and new user signups following the conclusion of the US election.
Polymarket Nears $200 Million Raise, Eyes Unicorn Status
According to Reuters, Polymarket is preparing to settle a $200 million fundraising round led by billionaire Peter Thiel’s Founders Fund. Data from Cryptorank shows that Polymarket raised $74 million between 2020 and 2024. Significant financiers, including Ethereum co-founder Vitalik Buterin, have backed the platform’s future. Founders Fund led a $45 million Series B round in May last year. The current round signals the fund’s ongoing commitment and long-term belief in Polymarket.
Polymarket’s Fundraising History From 2020 to 2024. Source: Cryptorank
The new capital is expected to assist Polymarket expand its infrastructure, enhance product development, and address legal challenges, specifically in the US, where the platform is currently prohibited due to betting regulations. Additionally, a key highlight of Polymarket’s development strategy is its collaboration with Elon Musk’s social media platform X, announced on June 6, 2025. This agreement makes Polymarket the official forecast market partner of X. The integration combines Polymarket’s forecast data with real-time analysis from Grok AI and posts on X to provide users with deeper insights. The collaboration strengthens Polymarket’s market position and grants it access to millions of users worldwide.
Monthly Trading Volume on Polymarket Recovers Above $1 Billion
According to Dune Analytics, May 2025 marked a strong comeback for Polymarket, with trading volume exceeding $1 billion. This follows a decline earlier in the year caused by post-election fatigue. The platform also recorded over 100,000 new accounts monthly. It maintained an average daily trading volume of $40 million, with around 20,000 active traders. This resurgence reflects growing community confidence in the potential of decentralized prediction markets. It comes at a time when both the crypto sector and the broader world are experiencing captivating and increasingly eventful developments.
Polymarket’s Traffic. Source: SimilarWeb
While traffic to most crypto exchanges decreased, Polymarket’s traffic jumped 50%, increasing from 10 million visits in March to over 15 million in May. Despite the growth, Polymarket continues to face significant regulatory challenges. Recently, the United States CFTC issued a subpoena to Coinbase seeking information related to Polymarket. It is to be noted that Polymarket has been inaccessible to US residents since 2022. This followed a $1.4 million settlement with the CFTC for operating an unregistered derivatives trading platform. Polymarket has also faced legal trouble in France for violating gambling laws related to prediction markets. Moreover, some individuals believe that large investors can manipulate market value, raising concerns about the platform’s neutrality. The post Polymarket’s $200 Million Raise Marks Crypto’s Newest Unicorn appeared initially on BeInCrypto.
