Polymarket Is Set to Raise Funding at $1 Billion Valuation

The popular online betting platform Polymarket is finalizing an investment of more than $200 million led by Peter Thiel’s Founders Fund, according to people familiar with the matter.

The new financing would value the company at about $1 billion not including the money raised, said the people, who asked not to be identified discussing private information. That would give the startup unicorn status, even though its service is banned for American users.