Polymarket in talks to raise about $400M at a valuation of about $15B, The Information reports

Polymarket

Polymarket was reported to be in talks to raise $400M at about a $15B valuation, up from $9B in its previous round and on top of $600M already invested by NYSE owner Intercontinental Exchange. The price trailed rival Kalshi's $22B valuation.

• New round targets $400 million at approximately $15 billion valuation, more than 50% increase from prior $9B round
• ICE (NYSE parent) previously invested $600 million in Polymarket
• Valuation lags Kalshi's $22B; gap reflects Kalshi's $1.5B annualized revenue versus Polymarket's recent US fee-paying launch