Polymarket soars as it prepares for $400m raise, valuing platform at $15bn

Polymarket, the online prediction platform that has made headlines for its wagers on geopolitical events, is in talks to raise $400 million at a valuation of up to $15 billion.

Massive increase in trading volume

The company has experienced a staggering surge in volume, with over $1 billion now traded on its platform each week, according to reports. This rapid growth has been fueled by the platform's unique approach to predicting outcomes, which incentivizes correct guesses through monetary rewards.

Polymarket takes a commission on some trades, with a varying fee structure depending on the type of bet. It claims that its geopolitical and world events markets are