{"id":30451,"date":"2020-10-21T15:21:39","date_gmt":"2020-10-21T12:21:39","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=30451"},"modified":"2025-08-27T22:21:41","modified_gmt":"2025-08-27T19:21:41","slug":"polymarket-prediction-platform-raises-4m-with-polychain-capital-backing","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/polymarket-prediction-platform-raises-4m-with-polychain-capital-backing\/","title":{"rendered":"Polymarket prediction platform raises $4m with Polychain Capital backing"},"content":{"rendered":"<p>The Polymarket prediction platform, using an automated market maker (AMM) technology, has attracted $4m in a funding round led by crypto fund Polychain Capital.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">I\u2019m proud to announce <a href=\"https:\/\/twitter.com\/PolymarketHQ?ref_src=twsrc%5Etfw\">@PolymarketHQ<\/a>\u2018s new $4m fundraise led by <a href=\"https:\/\/twitter.com\/polychaincap?ref_src=twsrc%5Etfw\">@polychaincap<\/a> + <a href=\"https:\/\/twitter.com\/naval?ref_src=twsrc%5Etfw\">@naval<\/a> <a href=\"https:\/\/twitter.com\/balajis?ref_src=twsrc%5Etfw\">@balajis<\/a> <a href=\"https:\/\/twitter.com\/1confirmation?ref_src=twsrc%5Etfw\">@1confirmation<\/a> <a href=\"https:\/\/twitter.com\/rleshner?ref_src=twsrc%5Etfw\">@rleshner<\/a> <a href=\"https:\/\/twitter.com\/paraficapital?ref_src=twsrc%5Etfw\">@paraficapital<\/a> &#038; more<\/p>\n<p>They\u2019ll be joining us on our mission to harness the power of free markets to combat misinformation.<\/p>\n<p>(continued)<a href=\"https:\/\/t.co\/sC7rpfJ3FF\">https:\/\/t.co\/sC7rpfJ3FF<\/a><\/p>\n<p>\u2014 Shayne Coplan (@shayne_coplan) <a href=\"https:\/\/twitter.com\/shayne_coplan\/status\/1318186347098669059?ref_src=twsrc%5Etfw\">October 19, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Investors also included Naval Ravikant, head of AngelList; Balaji Srinivasan, former Coinbase CTO; and Meltem Demirors, CoinShares\u2019 Director of Growth.<\/p>\n<p>The funding will enable the project to move into the second phase of the beta. It is expected that at this stage developers will fix the remaining technical shortcomings and improve the onboarding of new users and trading on the platform.<\/p>\n<p>Any participant on Polymarket may propose ideas for markets\u2014from politics and health to business and science. The administrators guarantee that the specific terms do not permit ambiguous interpretations.<\/p>\n<p>The platform\u2019s creators say that Polymarket participants, through their actions, will help uncover misinformation in the news landscape via what they call \u201ccollective knowledge.\u201d Experts can profit from assessments that are more accurate than most.<\/p>\n<blockquote>\n<p>\u201cOne of the key problems with social networks and online discussions is the lack of accountability. Everyone has an opinion, and he is not afraid to share it. The price of a faulty opinion is not high. This year has shown that ordinary people are finding it harder to distinguish fact from fiction,\u201d said Polymarket founder Shayne Coplan in an interview with <a href=\"https:\/\/www.coindesk.com\/predictions-platform-polymarket-raises-4m-from-polychain-naval-ravikant-and-more\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Coindesk<\/a>.<\/p>\n<\/blockquote>\n<p>According to the publication, in the three months since the beta launch, Polymarket&#8217;s trading volume surpassed $1m.<\/p>\n<p>As noted, open interest on Polymarket after the first US presidential debates <a href=\"https:\/\/forklog.com\/en\/news\/prediction-markets-declare-trump-the-loser-after-the-first-us-presidential-debate\">surpassed<\/a> $300,000.<\/p>\n<p>Follow ForkLog\u2019s news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polymarket&#8217;s prediction platform with AMM technology raised $4m in a funding round led by Polychain Capital.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1987,1988,849,1148,1595,1133],"class_list":["post-30451","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-balaji-srinivasan","tag-naval-ravikant","tag-polychain-capital","tag-polymarket","tag-prediction-markets","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30451","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=30451"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30451\/revisions"}],"predecessor-version":[{"id":30452,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30451\/revisions\/30452"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=30451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=30451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=30451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}