Polymarket is in early talks for a new funding round that could value the company above $20 billion. The talks would extend a valuation climb that started in October 2025.Finance Magnates reported at the time that Intercontinental Exchange agreed to invest up to $2 billion in the platform at an $8 billion valuation with further round being discussed, in a range of $12 billion to $15 billion.The new round is at an early stage and could bring in about $1 billion, according to Bloomberg, citing people familiar with the matter. Polymarket declined to comment.April 2026: The Unreported Round Had ClosedFinance Magnates reported in April 2026 that Polymarket was seeking to add $400 million to a round already anchored by ICE's $600 million commitment, targeting a total of $1 billion and a $15 billion valuation.That round has now closed. Bloomberg reports it brought in D.E. Shaw and G Squared as new investors, with existing backers SV Angel, Dragonfly and Valor Equity Partners also adding capital. The total came to about $1 billion, confirming the figures reported in April. D.E. Shaw that manages more than $100 billion is among the earliest firms to build a business on algorithmic trading, making its stake one of the clearest signals of quant-fund interest in prediction markets as an asset class.August 2026: The New Round Now on the Table The new talks are not happening in a vacuum. Polymarket's annualised revenue has more than tripled since the April close, passing $1.2 billion, and the company has used the period to build out a team with Wall Street and Silicon Valley pedigree. Travis VanderZanden, who led international growth at Uber after running operations at Lyft, joined as chief growth officer. Hayk Mkrtchyan, an engineer who helped build the New York Stock Exchange's Pillar trading platform, is now running development of Polymarket's US exchange. The company also opened its US platform during this period, giving domestic users direct access for the first time.However, the valuation climb is not matched by regulatory certainty. Polymarket remains under investigation by the CFTC over its social media marketing practices, following reports that the company pushed promotional content later flagged as misleading. The company has said it launched an internal audit of its promotional material in response. At the same time, the firm's push into the US market depends on the outcome of ongoing court fights between the CFTC and several states over whether prediction markets fall under federal derivatives law or state gambling law. This article was written by Tanya Chepkova at www.financemagnates.com.