The firm has focused on regulatory compliance, highlighted by the appointment of former CFTC Chairman J. Christopher Giancarlo to its advisory board in May 2022.

In anticipation of the 2024 U.S. presidential election, Polymarket saw increased trading volumes, particularly in contracts predicting a Republican sweep, despite traditional media favoring Democrat Kamala Harris.

If the upcoming funding round is successful, Polymarket will solidify its status as a leader in blockchain-based prediction markets and may pave the way for greater regulatory acceptance.

Founded in 2020 by Shayne Coplan, Polymarket specializes in trading event derivatives, allowing users to buy and sell contracts tied to real-world events.

The company is nearing a significant $200 million funding round that would value it at over $1 billion, reflecting a renewed interest in decentralized prediction markets.

Peter Thiel's Founders Fund is leading this funding round, which includes $50 million from previously unannounced funding.

Polymarket's platform gained notable traction during the 2024 U.S. presidential election, with approximately $8 billion in bets placed and a prediction accuracy reported at up to 94%.

Just before the election results were announced on November 4, 2024, Polymarket's prediction market saw over $3 billion in trading volume.

Despite a post-election decline in trading volume, Polymarket has experienced month-over-month increases, including a 21% rise in April and a 17% rise in May 2025.

As of May 2025, Polymarket's cumulative trading volume reached $13.89 billion, although much of this activity has occurred outside the U.S.

Unlike traditional betting, Polymarket allows traders to buy shares linked to specific outcomes, with total prices for opposing sides equaling $1.

Despite facing regulatory challenges, including a $1.4 million fine from the Commodity Futures Trading Commission, Polymarket continues to operate offshore for U.S.-specific prediction markets.