Polymarket plans to seek funding with a valuation between $12 billion and $15 billion.

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On October 23, Bloomberg reported, citing informed sources, that the prediction market platform Polymarket is in early talks with investors to raise funds at a valuation of between $12 billion and $15 billion, more than ten times its valuation four months ago. Polymarket's valuation has risen rapidly. In June of this year, Peter Thiel's Founders Fund led a $200 million investment in the startup, which had a valuation of $1 billion at the time. Earlier this month, Intercontinental Exchange Inc., the parent company of the New York Stock Exchange, indicated it would invest up to $2 billion in Polymarket, with a valuation of about $8 billion (not including funds already raised). This deal made Polymarket CEO Shayne Coplan the youngest self-made billionaire.

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