Bloomberg first reported the new talks on Tuesday, Aug 4, 2026. Polymarket runs a prediction platform, which means people use it to bet on how future events will turn out.
Someone with direct knowledge, who was not named, told CNBC that Polymarket's value in a new round would come in above $20 billion.
Polymarket declined to comment when CNBC asked. The higher valuation is not coming out of nowhere.
In late June, the company told CNBC that, on an annualized basis, revenue was well above $1 billion. Annualized is just a way of saying the company took its recent pace and stretched it over a full year.
In plain terms, that is a strong number for a business that did not have a formal U.S. exchange until May. The annualized figure is not a guarantee, but it shows momentum at a moment when money is moving into the sector.
The new round would also follow another big one. The same person confirmed that Polymarket wrapped up an April round at a $15 billion valuation.
The Information first reported that deal, but Polymarket did not confirm it at the time.
Bloomberg said that April round also included an extra $600 million in direct cash investment from Intercontinental Exchange, the company that owns the New York Stock Exchange. That investment was announced in March.
Polymarket is not the only prediction platform pulling in fresh money. Its top rival, Kalshi, completed a round in May that put its value at $22 billion.
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Kalshi's plan to raise again in the third quarter, with a $40 billion valuation target, was reported by the Financial Times in June.
That target is well above the $20 billion mark being discussed for Polymarket.
These two companies are not just competing for customers. They are competing for investor attention as prediction betting grows from a curiosity into a real business.
All this money is moving because these businesses are growing. Polymarket's regulated U.S. exchange went live in May, after first opening to a waiting list in December.
If a new round closes, it would be Polymarket's first funding round since the U.S. exchange formally launched. It would also show that private investors are willing to pay more for prediction market growth.
These are private companies, so regular investors are not getting a piece of this round. The valuation is what big, professional investors agree the business is worth in private talks.
For your portfolio, the immediate effect is indirect. The bigger story is how quickly prediction betting has become a serious business.
A valuation is not cash sitting in a bank. It is a number attached to a company when new investors buy in, and that number can move again within months.
The user activity helps explain the interest. On these platforms, notional volume means the total dollar value of the bets people place.
That is a different measure from revenue. It shows how much money is moving through the system, not how much the company keeps.
The U.S. exchange now moves more than $100 million in notional volume each day.
That is up from about $75 million in late May.
Dune Analytics data shows daily notional volume on the international platform exceeding $150 million.
When a private business reaches these numbers, it is a sign that the way people bet on future events is changing. Whether you ever place a bet or not, the money moving through these platforms is now big enough to show up on the radar of the wider market.
Polymarket's valuation would be jumping from $15 billion in April to above $20 billion in a new round. The formal U.S. exchange launch in May came between those two rounds.
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