Polymarket Raises $1 billion Funding Round

ICE initially disclosed an investment commitment of up to $2 billion in October 2025, which originally placed Polymarket’s valuation near $8 billion. Polymarket's current Price-to-Sales (P/S) ratio is significantly elevated compared to its historical median of ~2.0x, indicating that earnings-based valuation metrics like P/E do not apply due to the company's unprofitability.

What it does

ICE initially disclosed an investment commitment of up to $2 billion in October 2025, which originally placed Polymarket’s valuation near $8 billion. Polymarket's current Price-to-Sales (P/S) ratio is significantly elevated compared to its historical median of ~2.0x, indicating that earnings-based valuation metrics like P/E do not apply due to the company's unprofitability.

Traction

1789 Capital participated in the latest tracked round; deeper traction analysis is held until source support is strong enough.

Trend impact

MD-grade thesis held: available source material is not specific enough to support a non-generic investor-economist read without overclaiming.

Funding history

• September 1, 2026 · Funding Round · $1 billion · 1789 Capital