Polymarket Secures Significant Backing in Major $70M Funding Round

By: Eliza Bennet

Polymarket, the breakout crypto-based prediction market platform, has wrapped up a significant funding round totaling $70 million. This funding event, which is Polymarket's Series B round, brings the company's total funding close to a staggering $75 million.

The funding round saw prominent backers, including the likes of Peter Thiel's Founders Fund and Ethereum co-founder Vitalik Buterin. Furthermore, the raised funds will allow the platform to expand its activities, hinting at efforts to explore U.S.-regulated options for speculators.

This sizeable investment comes during a breakout year for Polymarket. The company is expected to leverage the fresh capital to enhance its service offerings and establish a stronger foothold in the blockchain fraternity.