Polymarket Weighs $9B Valuation Amid User Surge and CFTC Approval: The Information

Company Overview - Polymarket is an online betting exchange that allows users to wager on real-world outcomes, currently being valued at $9 billion, a significant increase from its previous valuation of $1 billion just three months ago [1] - The platform processed over $8 billion in wagers during the last U.S. election cycle, surpassing major sports betting companies in online traffic [3] Regulatory Environment - The rise in Polymarket's valuation coincides with regulators loosening restrictions, as the Commodity Futures Trading Commission previously barred the platform from offering prediction contracts in the U.S. but has now allowed it to operate domestically [2] Competitor Landscape - Competitor Kalshi has also experienced a valuation increase, now valued at $5 billion, up from $2 billion earlier this year, indicating investor confidence in the potential mainstream acceptance of regulated prediction markets [4] Investment and Backing - Polymarket has attracted significant investment from politically connected backers, including a deal worth tens of millions from Donald Trump Jr.'s venture capital firm, 1789 Capital, with Trump Jr. joining as an advisor [5]