Prediction market Polymarket seeks $1B funding at a $20B valuation

Polymarket is negotiating a new $1 billion funding round that would value the prediction market platform at $20 billion, more than doubling its October valuation. The talks come as the company faces a CFTC investigation and trails rival Kalshi, which was recently valued at $22 billion. Polymarket's trading volume reached approximately $13 billion in June.