$12 Billion Valuation and an ICE Deal—Is Polymarket About to Go Public?
Polymarket is looking for new capital at a $12 billion valuation, in accordance to Bloomberg. This marks a 20% enhance from its earlier $10 billion spherical and has sparked hypothesis that the prediction market platform might observe Kraken’s path towards a US IPO.
The timing aligns with Kraken’s latest strikes. The trade closed an $800 million increase earlier than confidentially submitting for an IPO on November 19.
Does Kraken’s IPO Blueprint Set Stage for Polymarket Public Listing?
On November 19, Kraken submitted a draft Form S-1 registration assertion with the US Securities and Exchange Commission. This transfer officially began the IPO process. The variety of shares and pricing stay undetermined pending overview by the SEC and market situations.
Pursuing public markets, Kraken secured $800 million in funding at a $20 billion valuation on November 18. This funding surpassed the preliminary plan of $500 million, which was introduced at a $15 billion valuation earlier in July.
Just hours earlier than the IPO information, Kraken co-CEO Arjun Sethi described the increase as a milestone and praised the staff’s achievements.
Circle additionally adopted the identical capital-raising method, with the USDC issuer setting an preliminary goal of raising $624 million at a per-share value of $24 to $26. This preceded its IPO filing in April, highlighting a typical development amongst companies wanting to go public within the US.
Is Polymarket Planning a Public Listing?
Polymarket’s effort to increase funds at a $12 billion valuation represents a big escalation after months of speedy progress.
The platform now counts over 1.3 million merchants and has processed $18.1 billion in buying and selling quantity. Daily energetic customers climbed from 20,000 to practically 58,000, spurred partially by hypothesis a couple of potential POLY token.
Backing from institutional gamers has been pivotal. The platform secured $2 billion in backing from Intercontinental Exchange, dad or mum of the New York Stock Exchange, an institutional validation milestone. CMO Matthew Modabber confirmed plans for a native POLY token and airdrop, answering months of market rumors.
On November 13, Polymarket founder Shayne Coplan rang the opening bell on the New York Stock Exchange alongside ICE CEO Jeffrey Sprecher.
The second symbolized Polymarket’s entry into mainstream finance. It coincided with the announcement of a multi-year unique partnership with TKO Group Holdings, making Polymarket the official prediction marketplace for UFC and Zuffa Boxing.
Polymarket additionally plans to debut knowledgeable buying and selling platform by year-end. This Pro tier will supply superior analytics, execution instruments, and information feeds, serving institutional merchants and subtle members. It will complement the prevailing retail platform interface.
Recently, Polymarket resumed US operations, including credence to the general public itemizing supposition. Institutional backing from ICE, sports activities partnerships, and a rising valuation place the platform for potential public market participation.
This mirrors many steps Kraken took earlier than its IPO, hinting at Polymarket’s potential technique for public entry down the road.
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