IPO
Polymarket Hires First CFO To Chase Kalshi
Polymarket named former Amazon finance chief Warren Jenson as its first-ever CFO, a governance milestone as the prediction market tries to close ground on regulated rival Kalshi.
DEEP DIVE
Polymarket at a glance
As of- [1] Latest valuation: Bloomberg, August 31, 2026
- [2] Equity raised: Sum of the 2 sourced equity rounds in the funding history below (debt, tender offers and rumored rounds excluded), August 31, 2026
- [3] Lead investors: Bloomberg, August 31, 2026
- [4] Founded: Wikipedia (retrieved September 5, 2026)
- [5] Headquarters: Wikipedia (retrieved September 5, 2026)
What Polymarket does
Polymarket runs a prediction market where users trade on the outcomes of future events, "allowing you to stay informed and profit from your knowledge," in the company's words.[1] Polymarket operates two separate platforms: a CFTC-regulated exchange in the United States and a cryptocurrency-based exchange internationally, according to a BofA Global Research report covered by Yahoo Finance.[2] Trading is blocked for U.S. users on polymarket.com, which directs them to polymarket.us (Oct 2026).[1] Shayne Coplan founded Polymarket in 2020 as a decentralized finance platform; in early 2022 the company agreed to stop offering contracts to U.S. users following CFTC regulatory action.[2] Federal investigations into Polymarket closed in 2025, and the company relaunched in the U.S. in early 2026.[2]
Business model and customers
Polymarket earns revenue primarily through transaction fees, with taker fees peaking at about 1.74% of notional volume on contracts priced at $0.50, according to BofA Global Research.[2] Polymarket's annualized revenue surpassed $1 billion, a source told Reuters on June 26, 2026.[3] That milestone came about six weeks after Polymarket rolled out access to its U.S. exchange, Reuters reported.[3] Polymarket's combined weekly trading volume rose from about $200 million a year earlier to more than $4 billion in July 2026, according to BofA Global Research.[2] Polymarket reached a 12% share of the U.S. prediction market, up four percentage points, and led app downloads in September 2026, according to regulatory filings cited by BofA.[2]
Ranked on: #1 Top Crypto & Web3 Startups 2026 · #4 Top Fintech Startups 2026 · #28 Most Valuable Private Companies 2026
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Company Snapshot
Polymarket is a crypto company, based in New York, New York, USA, founded 2020 by Shayne Coplan.
Recent changes
- Sep 10, 2026Sep 10, 2026Polymarket Hires First CFO To Chase Kalshi Pulse story
- Sep 1, 2026Sep 1, 2026Polymarket Raises $1B at $21B, Adds Trump Jr. Pulse story
- Aug 31, 2026Aug 31, 2026Raised $1B at a $21B valuation Bloomberg
- Aug 31, 2026Aug 31, 2026New investor: 1789 Capital Bloomberg
- Jun 21, 2026Jun 21, 2026Polymarket Reportedly Paid Creators to Post Deceptive Videos About Fake Bets Pulse story
Earlier changes (4)
- Jun 21, 2026Jun 21, 2026Polymarket Reportedly Paid Creators to Post Deceptive Videos of Fake Bets Pulse story
- Oct 23, 2025Oct 23, 2025First reported valuation: up to $15B (seeking)Rumored Bloomberg
- Oct 13, 2025Oct 13, 2025Raised $2B Yahoo Finance
- Oct 13, 2025Oct 13, 2025New investor: Intercontinental Exchange Yahoo Finance
Funding history
2 equity events · newest first · sources dated per row| Date | Round | Amount | Valuation | Lead investors | Source |
|---|---|---|---|---|---|
| Aug 31, 2026 | Funding round | $1B | $21Bpost-money | BloombergPulse story | |
| Oct 13, 2025 | Funding round | $2B | — | Intercontinental Exchangeunverified WithIntercontinental Exchange | Yahoo Finance |
Equity only. “Equity raised” above sums the rounds with a dated, linked source; rumored rounds, tender offers and secondary sales are listed but not counted, and debt financing is listed separately.
How Polymarket has been funded
In 2025, NYSE parent Intercontinental Exchange agreed to invest $2 billion in Polymarket, Reuters reported.[3] That ICE strategic investment lifted Polymarket to roughly $9 billion post-money, and later growth rounds reportedly took its valuation to around $15 billion in April 2026, according to Crypto Briefing.[4] On August 31, 2026, a spokesperson for 1789 Capital said the firm would lead a $1 billion funding round in Polymarket that values the company at $21 billion, CoinDesk reported.[5] 1789 Capital is contributing about $300 million to the round, on top of roughly $200 million it had already invested in Polymarket.[5] Polymarket was last valued at about $15 billion before the round, so the $21 billion mark lifts it 40% in a matter of months, according to CoinDesk.[5]
Investors
Latest Pulse
- Oct 29, 2026Kalshi's Valuation Nearly Doubles To $40B Since MayKalshi, the prediction-market platform where users trade on real-world events, raised $1 billion in a Series G that values the company at $40 billion, as reported by The Information, nearly double its $22 billion valuation from May 2026.→
- Oct 5, 2026Blockchain.com Plots A 2026 IPO At Up To $6BBlockchain.com is preparing a US IPO by the end of 2026 targeting a $4-6 billion valuation and roughly $500 million raised, joining crypto's broader return to public markets.→
- Sep 30, 2026Sydney Sweeney-Backed Novig Hits $2B ValuationNovig, the sports-only prediction market backed by Sydney Sweeney, raised new funding at a $2 billion valuation, quadrupling its February mark in about seven months.→
- Sep 18, 2026Mantic Raises $25M For 'Superhuman' AI ForecastingLondon-based Mantic raised a $25 million seed led by Radical Ventures after its AI forecasting system competed with human forecasters at the 2026 Metaculus Cup, with Balderton, M12 and Thinking Machines Lab also participating.→
- Sep 14, 2026Clarity Act Odds Jump After Trump Accepts Ethics LimitsBetting markets moved sharply after Senate Republicans released a Clarity Act draft with more than 120 changes, including new ethics provisions barring the president and Congress from sponsoring digital assets for payment, ahead of a September 15 cloture vote.→
- Sep 10, 2026Polymarket Hires First CFO To Chase KalshiPolymarket named former Amazon finance chief Warren Jenson as its first-ever CFO, a governance milestone as the prediction market tries to close ground on regulated rival Kalshi.→
- Sep 8, 2026Robinhood Takes Stakes In Crypto.com And OG.comRobinhood signed a multi-year prediction-markets deal with Crypto.com and took minority equity stakes in Crypto.com and its OG.com spinoff, priced off Crypto.com's $20 billion valuation from a July Citadel Securities investment.→
- Sep 1, 2026Polymarket Raises $1B at $21B, Adds Trump Jr.Polymarket is closing roughly $1 billion in new funding at a $21 billion valuation, with Donald Trump Jr.'s 1789 Capital putting in $300 million on top of an earlier $200 million check and Trump Jr. joining the company's advisory board.→
- Aug 27, 2026Anthropic Pitches a $30 Trillion Market, OpenAI SlipsAnthropic is preparing to tell IPO investors its addressable market tops $30 trillion, exceeding SpaceX's record TAM claim, while OpenAI's CFO has told employees a public listing is more likely in 2027 than 2026.→
- Aug 15, 2026Trump Brings Coinbase, Ripple, Kalshi to the White HousePresident Trump will host CEOs from Coinbase, Ripple, Gemini, Robinhood, Polymarket and Kalshi at the White House on August 19, alongside SEC and CFTC leadership, as odds of the CLARITY Act passing have collapsed from 82% to 19% this year.→
Coverage Timeline
newest first- Sep 10, 2026IPOPolymarket Hires First CFO To Chase Kalshi→
- Sep 1, 2026FUNDINGPolymarket Raises $1B at $21B, Adds Trump Jr.$1B round, $21B valuation→
- Jun 21, 2026BIG TECHPolymarket Reportedly Paid Creators to Post Deceptive Videos of Fake BetsPaid-influencer scandal→
- Jun 21, 2026REGULATIONPolymarket Reportedly Paid Creators to Post Deceptive Videos About Fake BetsPaid fake-bet videos→
All Coverage
Polymarket Hires First CFO To Chase Kalshi
Polymarket Raises $1B at $21B, Adds Trump Jr.
FUNDING$1B round, $21B valuation
Polymarket Raises $1B at $21B, Adds Trump Jr.
Polymarket is closing roughly $1 billion in new funding at a $21 billion valuation, with Donald Trump Jr.'s 1789 Capital putting in $300 million on top of an earlier $200 million check and Trump Jr. joining the company's advisory board.
DEEP DIVE
Polymarket Reportedly Paid Creators to Post Deceptive Videos of Fake Bets
BIG TECHPaid-influencer scandal
Polymarket Reportedly Paid Creators to Post Deceptive Videos of Fake Bets
Prediction-market platform Polymarket reportedly paid online creators to post viral videos depicting fake bets and exaggerated payouts, according to reporting surfaced by TechCrunch and The Verge. The revelation lands as Polymarket pushes into the US mainstream, raising fresh questions about how much of the prediction-market hype is organic versus manufactured.
Polymarket Reportedly Paid Creators to Post Deceptive Videos About Fake Bets
REGULATIONPaid fake-bet videos
Polymarket Reportedly Paid Creators to Post Deceptive Videos About Fake Bets
Prediction-market platform Polymarket reportedly paid online creators to post viral videos staging fake bets and exaggerated winnings, according to reports from The Verge and TechCrunch. The undisclosed-promotion campaign raises fresh questions about how the fast-growing prediction-market category markets itself as it pushes toward the mainstream.
Value Add Research
- Market & Trends · Oct 16, 2026Q3 2026 Fintech Funding Rounds: Kalshi's $1.12B Leads
- Market & Trends · Aug 1, 2026Youngest Billionaires 2026: 3 Broke Zuckerberg's Record
- Market & Trends · Jul 16, 2026$22B Kalshi vs $15B Polymarket — Who's Winning?
- VC & Investing · Jul 9, 2026Seed 100 — Best Early-Stage Investors of 2026
- Market & Trends · Jun 7, 2026Stripe IPO Date Oct 2026: No S-1, $159B Valuation History
Related Companies
Shared investors
Polymarket FAQ
What is Polymarket's valuation?
Polymarket was valued at $21 billion in a $1 billion funding round led by 1789 Capital, announced August 31, 2026, up from about $15 billion, CoinDesk reported.[5]
How much revenue does Polymarket make?
Polymarket's annualized revenue surpassed $1 billion as of June 26, 2026, according to a source cited by Reuters.[3] BofA Global Research estimated that the $21 billion valuation implies about 17.5 times Polymarket's annualized run-rate revenue.[2]
Who invested in Polymarket?
1789 Capital led Polymarket's $1 billion round in August 2026, and NYSE parent Intercontinental Exchange agreed to invest $2 billion in 2025.[5],[3]
Who owns Polymarket?
Polymarket, founded by CEO Shayne Coplan in 2020, is privately held and backed by investors including Intercontinental Exchange and 1789 Capital, which had invested about $500 million across two checks as of August 2026.[2],[3],[5]
Is Polymarket a public company?
No; Polymarket raised a private $1 billion round at a $21 billion valuation in August 2026, so it is privately held as of that date.[5] Crypto Briefing reported in October 2026 that Polymarket is weighing a traditional equity route, possibly an IPO.[4]
How much has Polymarket raised?
Polymarket has raised at least $3B in equity across 2 sourced funding rounds tracked by Value Add VC. The most recent was a $1B funding round in August 2026 at a $21B post-money valuation, reported by Bloomberg. Debt financing, tender offers and secondary sales are not counted.
When was Polymarket founded and where is it based?
Polymarket was founded in 2020 and is headquartered in New York, New York, USA, according to Wikipedia.
References
researched 2026-10-19Sources & methodologyshow
Where these figures come from
- Bloombergmajor outlet2 facts
- Yahoo Financeresearch database1 fact
Figures are labelled Reported (a source states it), Estimated, Derived (computed from other facts) or Rumored (in talks / unconfirmed). Rumors never replace a confirmed figure. Each figure keeps its own as-of date; history is preserved rather than overwritten.