Polymarket Seeks $50 Million Funding and Considers Token Launch

The decentralized prediction market platform Polymarket aims to raise $50 million and is contemplating a token issuance, according to The Information, citing its own sources.

“Investors in this round will receive token-warrants, giving them the right to buy coins if Polymarket issues them later,” the publication reports.

According to another source, the platform has not yet made a final decision regarding the launch of a new asset.

The chart below illustrates the cumulative monthly trading volumes of Polymarket:

In May, the platform raised $70 million in two rounds of funding. The funds were provided by General Catalyst, DragonFly Capital, ParaFi Capital, Vitalik Buterin, and others.

In September, Polymarket was integrated into Bloomberg’s terminal.