Polymarket is set to raise $200 million in a new funding round that will value the platform at $1 billion, led by Peter Thiel’s Founders Fund. Despite facing regulatory challenges that resulted in banning US customers, Polymarket has maintained significant activity, particularly during the 2024 US presidential election, and is expanding its offerings through a partnership with Elon Musk's social network, X. The platform's cumulative betting volume is approaching $14.8 billion, with a notable decrease in user activity recently.

Polymarket is exploring a financing round that could value the company between $9 billion and $10 billion, while Kalshi is nearing a $5 billion valuation for its upcoming fundraising. Both prediction market platforms are experiencing increased activity, with Polymarket set to relaunch in the U.S. after receiving approval from the CFTC.