Prediction market platform Polymarket is reportedly in discussions to raise $400 million in fresh funding, potentially valuing the company at around $15 billion.
According to a report by The Information, which cites sources familiar with the matter, the new capital would significantly expand an ongoing funding round already backed by major institutional investors.
ICE investment fuels expansion
The latest fundraising push follows a $600 million investment announced last month by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange. That investment is part of ICE’s broader strategy to commit up to $2 billion into Polymarket as it expands into event-based trading.
According to reports, the new $400 million raise would build on ICE’s initial investment, potentially bringing the total funding round to as much as $1 billion if additional strategic investors join.
Prediction markets gain momentum
Prediction markets, once confined to niche areas of crypto and academic research, are rapidly entering the mainstream. Platforms like Polymarket are seeing increased trading volumes and user participation as investors seek exposure to event-driven outcomes.
This growing demand is driving institutional players to explore the sector, viewing it as a high-growth segment within alternative trading markets. Recently, there have been talks that the National Basketball Association (NBA) is reportedly intensifying discussions with Kalshi and Polymarket, signalling a potential move into one of the fastest-growing areas of the sports betting landscape.
🚨 JUST IN: Polymarket is in talks to raise $400 million at a $15 billion valuation, per The Information. pic.twitter.com/GfWqpX473S
— Cointelegraph (@Cointelegraph) April 20, 2026
The platform has already signed partnerships with major industry players. LaLiga North America entered a multi-year partnership with Polymarket in April, marking the first time a major European football league has appointed such a partner in the region. In October 2025, the National Hockey League (NHL) named Polymarket and Kalshi as official prediction market partners, marking the first time a major American league has partnered with prediction markets. The Ultimate Fighting Championship (UFC) followed in December 2025, and Major League Baseball (MLB) joined in March 2026. Polymarket also partnered with the Golden Globes, becoming the ceremony’s exclusive prediction market partner ahead of the 83rd Annual Golden Globe Awards in 2026.
Rise not without legal troubles
Alongside Polymarket’s partnerships, the platform faces its first-ever civil enforcement lawsuit in the US, brought by the Nevada Gaming Control Board (NGCB), which sought to block its operations in the state. The lawsuit centres on Polymarket’s sports-event contracts, which NGCB argues constitute illegal gambling under state law. The board cited NRS 463.0193 and 463.01962, which define such contracts as wagering activities requiring a license.
Apart from this, many countries have imposed regulatory action against the platform and banned its operations. Recently, a Romanian court rejected Polymarket’s request to suspend a decision by the National Gambling Office (ONJN), which had previously classified the platform as an unlicensed gambling operator. The platform also faces regulatory actions from countries including Hungary, Portugal, Ukraine, and the Netherlands.
In February, the Dutch gambling regulator ordered Polymarket to stop offering bets in the Netherlands, threatening weekly penalties of €420,000. Hungary and Portugal temporarily blocked access to Polymarket for users in January, citing alleged breaches of national gambling laws and the provision of unlicensed betting services. Ukraine’s gambling and lottery regulator blocked Polymarket and classified the platform’s activities as bookmaking.
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