NYC-based Prediction Market Polymarket Raises $70M in Funding to Expand Operations and Development Efforts

NYC-based prediction market, Polymarket, has secured $70 million in funding from investors including Founders Fund, 1confirmation, ParaFi, Vitalik Buterin, Dragonfly, and Kevin Hartz. The funds will be used to expand operations and development efforts. Polymarket, founded by Shayne Coplan, allows traders to predict the outcome of future events and react to breaking news in real-time, with market prices conveying the likelihood of important events. The platform has already seen a record $202 million worth of predictions made in 2024 across politics, current events, pop culture, and more.