Polymarket Eyes $10B Valuation as Prediction Market Preps US Comeback: Report

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Ah, Polymarket, the blockchain-powered venture that dares to stare into the future like a mystic with a crystal ball, or perhaps a card shark in a backroom poker game, has suddenly caught the eye of the great financial beast. As it preps for a return to the US, whispers abound of a valuation that could soar to $10 billion. What a mighty leap from the humble billion-dollar valuation it boasted back in June! It’s as if the market had a spiritual awakening and, in the process, decided that Polymarket’s worth was a number that only the gods themselves could fathom.

And yet, we are told by sources close to the matter (sources, of course, who have been mysteriously cloaked in shadow) that Polymarket seeks not just to return to the US but to seek new funding, enough to increase its worth threefold. A $10 billion valuation, they claim. Oh, what a world! Do the heavens tremble at such numbers, or do they laugh behind closed doors? Some investor, a figure who may very well be a digital fortune teller, put the value precisely at $10 billion. A modest estimate, don’t you think?

Recall, dear reader, that back in June, the very titans of venture capital, such as Peter Thiel’s Founders Fund, saw fit to lavish Polymarket with $200 million, as if it were a mere trinket at a bazaar. It’s funny, isn’t it? A market that trades in the outcomes of events has managed to predict not just political elections but the rise and fall of fortunes themselves. When the 2024 US presidential election came around, Polymarket didn’t just ride the wave; it surfed it with the grace of a seasoned pro, correctly forecasting Trump’s victory.

But alas, fortune’s favor is a fickle thing. In 2022, the Commodity Futures Trading Commission (CFTC), the ever-watchful watchdog of all things financial, barred Polymarket from serving US users. How cruel, yet how poetic! However, as all great stories unfold, Polymarket was not defeated. No, it acquired the Florida-based derivatives exchange QCX in July, and thus, it seems, has begun plotting its return to the US market. Ah, the sweet taste of redemption! Perhaps the CFTC shall offer it the forgiveness it so craves? In September, the CFTC issued a no-action letter to QCX, granting it relief from certain federal reporting requirements. This, dear reader, may very well be the green light Polymarket needed to return, a return that smells, dare I say, of a rebirth.

Blockchain Prediction Markets Gain Steam

Meanwhile, Polymarket’s rival, Kalshi, is hot on its heels, allegedly gearing up for a $5 billion funding round, according to that ever-reliable source, The Information. The bloodhounds of the market are closing in, and one can only imagine how much they, too, wish to see the sun shine brightly on their precious portfolios. Kalshi, which secured $185 million at a $2 billion valuation earlier this year, has been granted a favorable court ruling in 2024, allowing it to offer political-event contracts. The CFTC, in all its bureaucratic glory, appealed, only to drop it like a bad habit in May. How thrilling! A game of legal chess, with the fate of billions hanging in the balance.

So, as the NFL season kicks off, and with it the spirits of speculation once again unleashed, analysts are noting that Kalshi has processed a staggering $441 million in volume since Week 1. To them, the NFL is as potent as any US election, a veritable goldmine of prediction-fueled fortune. Ah, how we long to bet on the outcomes of events! The markets may not be able to predict whether we will ever achieve true happiness, but they certainly know when the next touchdown is coming.

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2025-09-12 22:23