Polymarket in talks to raise money at about US$15 billion valuation, The Information reports

Prediction markets platform Polymarket is talking to investors ​about raising US$400 million in funding at a ‌valuation of about US$15 billion including the new money, The Information reported on Sunday, citing two people familiar ​with the talks.

Reuters could not immediately ​verify the report. Polymarket did not immediately ⁠respond to a Reuters' request for comment.

The report ​on new funding comes after a US$600 million investment ​from New York Stock Exchange parent Intercontinental Exchange announced last month.

The funding was part of the exchange operator's ​previously announced plan to invest up to US$2 ​billion in Polymarket to expand into the fast-growing event-based ‌trading ⁠segment.

According to The Information report, the new financing would add to the US$600 million already invested in the funding round by Intercontinental Exchange.

Polymarket is ​looking to ​add additional ⁠strategic investors beyond Intercontinental Exchange to the round, which could total US$1 billion, ​the report said.

Investors have been looking ​to ⁠expand into the event-based trading segment as prediction markets increasingly shift from a niche corner of ⁠crypto ​and academic finance into a ​rapidly growing segment, with volumes and user activity surging.

Reuters