The firm behind the predictions market platform also confirmed a previously unannounced $25 million Series A round led by General Catalyst.
Polymarket Labs has raised a $45 million Series B funding round led by Peter Thiel’s Founders Fund and existing investors 1confirmation and ParaFi, with participation from Ethereum co-founder Vitalik Buterin, Dragonfly and Eventbrite’s co-founder Kevin Hartz.
The firm behind the predictions market platform also confirmed a previously unannounced $25 million Series A round led by General Catalyst, with participation from Airbnb’s Joe Gebbia and Polychain, among others. The new investment comes despite a Commodity Futures Trading Commission proposal on Friday to crack down on so-called event contracts that enable derivatives betting on political contests and sports. Polymarket Labs previously settled with the CFTC for $1.4 million in 2022, agreeing to wind down its Polymarket.com front-end website services in the U.S.
“I’m excited to work with Polymarket as it enters its next phase of growth,” Jaycobs said. “I’ve been involved in the registration and operation of over a dozen innovative financial derivatives exchanges and clearinghouses over the course of my 30-year career. Regulated markets serve an important economic role for commercial interests and offer exceptional transparency for public policy makers.
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Peter Thiel's Founders Fund, Vitalik Buterin Back $45M Investment in PolymarketMarc Hochstein is the executive editor of Consensus, CoinDesk's flagship event. He holds BTC above CoinDesk's disclosure threshold of $1K and de minimis amounts of other digital assets (details on profile page).
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