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Polymarket is seeking $12 billion in new capital, according to a Bloomberg report. This represents a 20% increase from the previous round of $10 billion and has sparked speculation that the prediction market platform could follow Kraken’s path to a US IPO.
The timing aligns with the Kraken’s recent moves. The exchange closed an $800 million funding round before filing for a confidential IPO on November 19.
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Does Kraken’s IPO scheme pave the way for a public listing for Polymarket?
On November 19, Kraken was introduced Draft Form S-1 Registration Statement At the United States Securities and Exchange Commission. This procedure The rollout has officially started. The number of shares and prices remain undetermined pending committee review and market conditions.
In connection with the public markets, Kraken has secured a number of… 800 million dollars of financing at a valuation of $20 billion on November 18. This funding surpassed the initial plan to raise $500 million, which was announced in an evaluation. $15 billion before July.
Hours before news of the offer, Kraken co-chairman Argon Seti described the funding as a major milestone and praised the team’s achievements.
Circle followed the same approach to raising capital, with the USDC issuer setting an initial target To raise $624 million At a price per share between $ 24 and $ 26. This preceded his presentation of the offer report In Aprilhighlights a common trend among companies seeking to go public in the United States.
Polymarket planning a public listing?
Polymarket’s fundraising efforts at a $12 billion valuation represent a major escalation after months of rapid growth.
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Now the platform has more than 1.3 million traders and has handled $18.1 billion in trading volume. The number of daily active users rose from 20,000 to nearly 58,000, driven in part by speculation about… POLY password probability.
The support of institutional actors was pivotal. The platform He received support worth $2 billion From the Intercontinental Exchange Company, the parent company of the New York Stock Exchange, as a turning point in institutional validation. CMO Matthew Modabre confirmed the launch plans POLY original code and airdrop respond to the most popular rumors in the market.
On November 13, Polymarket founder Shane Coplan rang the opening bell at the New York Stock Exchange alongside ICE CEO Jeffrey Spratcher.
Instant Polymarket Connection Code for Internal Finance. It coincides with the announcement of Exclusive multi-year partnership With TKO Group Holdings, making Polymarket the official prediction market for UFC and Zuffa Boxing.
Polymarket also plans to launch a professional trading platform by the end of the year. This professional phase offers advanced analytics, execution tools and data feeds to serve institutional traders and sophisticated participants. Complementing the interface of the existing sales platform.
shortly, Polymarket has resumed operations in the United Stateswhich reinforces the hypothesis of general inclusion. Institutional support from the ICE, sports partners and the increasing value of the platforms position them to potentially participate in public markets.
This mirrors many of the steps Kraken took before its IPO, suggesting a potential strategy for Polymarket to go public going forward.
