Polymarket Raises $70M in Funding


Polymarket, a NYC-based prediction market, raised $70M in funding.

The round was led by Founders Fund and existing investors 1confirmation and ParaFi, with participation from Ethereum founder Vitalik Buterin, Dragonfly and Eventbrite’s co-founder Kevin Hartz, as well as a $25M Series A led by General Catalyst, with participation from Airbnb’s Joe Gebbia, Polychain and other leading investors.

The company intends to use the funds to expand operations and development efforts.

Founded by Shayne Coplan, Polymarket is a prediction market where traders predict the outcome of future events and win when they are right. They react to breaking news in real time and market prices convey the likelihood of important events. Institutions, individuals and the media use these forecasts to report the news and understand the future. Across politics, current events, pop culture and more, a record $202M worth of predictions have been made so far on Polymarket in 2024.