Prediction market giant Polymarket is exploring a capital raise, valuing it at around $15 billion, according to a report published Sunday.

New Funding Secured?

The cryptocurrency-based platform is in talks to raise $400 million in new funding, The Information reported, citing sources familiar with the matter.

Benzinga reached out to Polymarket to confirm the capital raise. The article will be updated once they respond.

Polymarket Trails Kalshi

Polymarket’s reported valuation came in significantly below that of rival Kalshi,  which raised more than $1 billion last month at a $22 billion valuation.

Prediction Market Boom

The prediction markets industry has witnessed rapid growth…

Read more on Benzinga