Polymarket just handed its army of small-bet traders access to leveraged instruments that can turn a routine market fluctuation into a total wipeout, and the platform’s own user data reveals exactly why that combination is so dangerous.
The popular prediction market Polymarket has raised $300 million from 1789 Capital as part of a new funding round totaling around $1 billion, The Wall Street Journal reported, citing unnamed sources.
Polymarket is raising $1 billion in a new funding round led by 1789 Capital that values the prediction-market platform at $21 billion on a post-money basis, according to a Bloomberg report.
New York City Council Speaker Julie Menin announced an investigation on Wednesday into the marketing and advertising practices of four prediction market platforms operating in New York City: Polymarket, Kalshi, Coinbase, and Gemini Titan.
