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Polymarket, a blockchain-based prediction platform, is set to raise $200 million in a Series C round led by Peter Thiel’s Founders Fund, valuing the company at $1 billion. Despite regulatory challenges in the U.S., the platform has seen record engagement, particularly around major events like the U.S. election. The investment highlights growing VC confidence in decentralized prediction markets, even as legal uncertainties persist.
- Polymarket’s Series C round, led by Founders Fund, values the platform at $1 billion, making it one of the first blockchain-native prediction markets to achieve unicorn status.
- The platform has seen record engagement, with over 475,000 monthly active traders and $2 billion in bets related to the 2024 U.S. election, showcasing its 'wisdom of crowds' model.
- Despite its growth, Polymarket faces significant regulatory challenges in the U.S., including a $1.4 million CFTC fine and ongoing legal scrutiny, which could impact its long-term viability.
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