Cryptocurrency-based prediction platform Polymarket has raised $45 million in a series B funding round from major investors.
It was stated that important names such as Ethereum (ETH) founder Vitalik Buterin, 1confirmation, ParaFi and Dragonfly Capital participated in the financing round led by famous billionaire Peter Thiel's Founders Fund.
It was not disclosed how much the company was valued after the financing round.
Polymarket co-founder Joey Krug said in a statement to The Block:
“Polymarket has finally brought its vision of prediction markets to reality, an opportunity we have been passionately awaiting for years.
The tangible benefits of using Polymarket as a complement to consuming news on social and mainstream media were clear. “It became clear to us that Polymarket was the winner in this market.”
Polymarket claims that approximately $202 million worth of predictions have been made for 2024 so far through the platform.
Late last year, Bitwise analysts predicted that a record $100 million would be invested in crypto-based prediction markets (of which Polymarket is by far the largest) in 2024.
*This is not investment advice.
