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Polymarket scales back operations due to regulatory scrutiny by mid-2025?
5
Resolution / Starting Odds
Yes, Polymarket scales back its operations • 50%
No, Polymarket continues its operations as usual • 50%
Public statements or filings from Polymarket
Story
Founders Fund Leads $45M Series B for Polymarket, Total Funding Reaches $70M Amidst Regulatory Scrutiny
May 14, 2024, 02:01 PM
Peter Thiel’s venture-capital firm Founders Fund is betting on one of the largest crypto-based prediction markets, Polymarket, even as a key US regulator steps up efforts to restrict activity on such platforms. Polymarket completed a $45 million Series B round of financing, led by Founders Fund, bringing its total funding to $70 million across two rounds, including a Series A led by General Catalyst. Other backers include Ethereum co-founder Vitalik Buterin. The new investment comes amidst a proposed ban on trading of derivatives betting on political contests and sports games from the US Commodity Futures Trading Commission (CFTC). Polymarket is enjoying a big year ahead of the U.S. presidential election.
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