Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
$12 Billion Valuation and an ICE Deal—Is Polymarket About to Go Public?

$12 Billion Valuation and an ICE Deal—Is Polymarket About to Go Public?

BeInCryptoBeInCrypto2025/11/20 06:43
By:Lockridge Okoth

Polymarket is seeking new capital at a $12 billion valuation, according to Bloomberg. This marks a 20% increase from its previous $10 billion round and has sparked speculation that the prediction market platform could follow Kraken’s path toward a US IPO. The timing aligns with Kraken’s recent moves. The exchange closed an $800 million raise

Polymarket is seeking new capital at a $12 billion valuation, according to Bloomberg. This marks a 20% increase from its previous $10 billion round and has sparked speculation that the prediction market platform could follow Kraken’s path toward a US IPO.

The timing aligns with Kraken’s recent moves. The exchange closed an $800 million raise before confidentially filing for an IPO on November 19.

Does Kraken’s IPO Blueprint Set Stage for Polymarket Public Listing?

On November 19, Kraken submitted a draft Form S-1 registration statement with the US Securities and Exchange Commission. This move officially began the IPO process. The number of shares and pricing remain undetermined pending review by the SEC and market conditions.

Pursuing public markets, Kraken secured $800 million in funding at a $20 billion valuation on November 18. This funding surpassed the initial plan of $500 million, which was announced at a $15 billion valuation earlier in July.

Just hours before the IPO news, Kraken co-CEO Arjun Sethi described the raise as a milestone and praised the team’s achievements.

We just announced that @krakenfx has raised $800M, a milestone that reflects years of work, discipline, and conviction. I am proud of what our team has built and grateful for the partners who chose to join us. But this is not a post about a fundraise. I want to share the side of…

— Arjun Sethi (@arjunsethi) November 18, 2025

Circle also followed the same capital-raising approach, with the USDC issuer setting an initial target of raising $624 million at a per-share price of $24 to $26. This preceded its IPO filing in April, highlighting a common trend among firms looking to go public in the US.

Is Polymarket Planning a Public Listing?

Polymarket’s effort to raise funds at a $12 billion valuation represents a significant escalation after months of rapid growth.

[ ZOOMER ]POLYMARKET LOOKING TO RAISE ADDITIONAL FUNDS AT A $12B VALUATION, UP FROM PREVIOUS $10B ROUND: BBG

— zoomer (@zoomerfied) November 20, 2025

The platform now counts over 1.3 million traders and has processed $18.1 billion in trading volume. Daily active users climbed from 20,000 to nearly 58,000, spurred in part by speculation about a potential POLY token.

Backing from institutional players has been pivotal. The platform secured $2 billion in backing from Intercontinental Exchange, parent of the New York Stock Exchange, an institutional validation milestone. CMO Matthew Modabber confirmed plans for a native POLY token and airdrop, answering months of market rumors.

On November 13, Polymarket founder Shayne Coplan rang the opening bell at the New York Stock Exchange alongside ICE CEO Jeffrey Sprecher.

Polymarket 🤝 @ufc @TKOGrp The UFC has chosen to partner with Polymarket as its Exclusive and Official Prediction Market.The UFC will be integrating a Polymarket Scoreboard into the fights that will show the realtime % likelihood of who will win.When I watch UFC, I love… pic.twitter.com/Jj8bOi5k3A

— Shayne Coplan 🦅 (@shayne_coplan) November 13, 2025

The moment symbolized Polymarket’s entry into mainstream finance. It coincided with the announcement of a multi-year exclusive partnership with TKO Group Holdings, making Polymarket the official prediction market for UFC and Zuffa Boxing.

Polymarket also plans to debut a professional trading platform by year-end. This Pro tier will offer advanced analytics, execution tools, and data feeds, serving institutional traders and sophisticated participants. It will complement the existing retail platform interface.

BREAKING: Polymarket is developing a pro version targeted at professional traders. According to one of the developers @mustafaaljadery, the launch is planned by the end of this year.https://t.co/2LVJxPUrrG pic.twitter.com/KIm3VQo5nr

— tsybka (@tsybka) October 18, 2025

Recently, Polymarket resumed US operations, adding credence to the public listing supposition. Institutional backing from ICE, sports partnerships, and a rising valuation position the platform for potential public market participation.

This mirrors many steps Kraken took before its IPO, hinting at Polymarket’s possible strategy for public access down the line.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Bitcoin News Update: Japan's Bond Turmoil Triggers Worldwide Crypto Sell-Off Amid Yen Carry Trade Reversal

- Japan's $135.4B stimulus package triggered a 3.41% surge in 30-year bond yields, destabilizing the $20T yen carry trade and sparking global crypto/stock selloffs. - Rising yields threaten Japan's 230% GDP debt load with higher servicing costs, creating a "debt death spiral" risk as BOJ hesitates to tighten policy. - Forced deleveraging by financial institutions intensified Bitcoin's 26% drop, with Ethereum/XRP/Solana also falling 3-5.6% amid margin calls and capital repatriation. - Upcoming 40-year bond

Bitget-RWA2025/11/21 07:50
Bitcoin News Update: Japan's Bond Turmoil Triggers Worldwide Crypto Sell-Off Amid Yen Carry Trade Reversal

Bitcoin News Today: Bitcoin ETFs See $523M Outflow as Investors Weigh Fear Against Long-Term Strategies

- BlackRock's IBIT ETF recorded a $1.26B net outflow in Nov 2025, its largest redemption since 2024 launch. - Bitcoin price fell 16% to $52, triggering $2.59B outflows across 11 spot ETFs as bearish options demand surged. - Put-call skew hit 3.1% (7-month high), reflecting heightened pessimism and capitulation pressures in Bitcoin's price action. - Gold ETFs gained $289M as investors sought safe havens, contrasting with $1B inflows to tech/healthcare sector funds. - Year-to-date Bitcoin ETF inflows ($27.4B

Bitget-RWA2025/11/21 07:50
Bitcoin News Today: Bitcoin ETFs See $523M Outflow as Investors Weigh Fear Against Long-Term Strategies

YFI Drops 1.7% After Subpar Weekly Results as Edgewater Showcases AI-Powered Wi-Fi at Canada’s Leading Semiconductor Conference

- Edgewater Wireless will showcase AI-powered Wi-Fi 8 solutions at Canada’s premier semiconductor symposium in November 2025. - The company’s CEO will highlight ultra-reliable wireless roadmaps and a $2.4M commercialization initiative supported by $921K in government grants. - Its patented Spectrum Slicing technology claims 10x performance gains and 50% latency reduction, aligning with Canada’s semiconductor self-sufficiency goals. - Despite a 11.85% monthly stock decline, Edgewater positions itself at the

Bitget-RWA2025/11/21 07:46
YFI Drops 1.7% After Subpar Weekly Results as Edgewater Showcases AI-Powered Wi-Fi at Canada’s Leading Semiconductor Conference

Ethereum Updates Today: Ethereum Transforms into Digital Bonds, Soaring Above $3,000 Driven by Institutional Interest

- Ethereum surged past $3,000 in late 2025 driven by institutional demand, ETF approvals, and technical upgrades like the Fusaka upgrade. - BlackRock's staked Ethereum ETF attracted $13.1B inflows since 2024, reclassifying staked ETH as "digital bonds" for institutional investors. - Over 69 corporations now hold 4.1M ETH in treasuries, but ETF outflows highlight ongoing market differentiation from Bitcoin . - Fusaka's focus on layer-1 scalability aims to redirect economic activity to Ethereum's base layer

Bitget-RWA2025/11/21 07:28