---
title: "Polymarket revenue and valuation"
description: "Polymarket's revenue is estimated at $1.5B–$2.16B, last reported at $1.8B. Valued at $21B after raising $3.31B. Funding rounds and competitors."
url: https://www.tryspecter.com/revenue-valuation/polymarket.md
canonical_url: https://www.tryspecter.com/revenue-valuation/polymarket
publisher: Specter
last_updated: 2026-11-01
---

# Polymarket revenue and valuation

Specter estimates Polymarket's annual revenue at $1.5B to $2.16B and its valuation at $18.7B to $26.8B. The company last reported $1.8B revenue in November 2026 and was priced at $21B in September 2026.

Polymarket runs a crypto-backed prediction market for trading yes/no shares on real-world events.

- Estimated revenue: $1.5B to $2.16B (October 2026)
- Estimated valuation: $18.7B to $26.8B (October 2026)
- Last reported revenue: $1.8B (November 2026)
- Total funding: $3.31B
- Founded: 2020
- Headquarters: New York City, United States
- Employees: 594
- Sector: Prediction markets
- Specter Rank: #49,229

## Polymarket revenue

Polymarket grew from $261M revenue in May 2026 to $1.8B in November 2026. Specter's model puts current revenue between $1.5B and $2.16B, anchored to four reported figures.

| Reported figure | Date | Source |
| --- | --- | --- |
| $1.8B revenue | November 2026 | [Polymarket says annualized revenue has topped $1.8 billion](https://www.cnbc.com/2026/11/10/polymarket-annualized-revenue-us-growth.html) (cnbc.com) |
| $1.2B revenue | September 2026 | [Polymarket lands $300M from Trump Jr.-linked 1789 Capital at $21B valuation](https://techfundingnews.com/polymarket-lands-300m-from-trump-jr-linked-1789-capital-at-21b-valuation/) (techfundingnews.com) |
| $1B ARR | June 2026 | [Polymarket annualized revenue surpasses $1 billion six weeks after its U.S. exchange launch](https://www.cnbc.com/2026/06/26/polymarket-annualized-revenue-1-billion-us-exchange-.html) (cnbc.com) |
| $261M revenue | May 2026 | [🚀Polymarket growing faster🔥 Although ranked #6, its 24-hour revenue is nearly $907K and in 7 days it has reached $5.01 million. Above it…](https://x.com/athariz172/status/2056415745408663609) (x.com) |

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $1.8B | $1.5B | $2.16B |
| September 2026 | $1.2B | $1B | $1.44B |
| August 2026 | $370M | $300M | $460M |
| July 2026 | $112M | $91M | $138M |
| June 2026 | $34M | $29M | $41M |
| May 2026 | $260M | $220M | $310M |
| April 2026 | $340M | $280M | $410M |
| March 2026 | $230M | $118M | $330M |
| February 2026 | $177M | $88M | $260M |
| January 2026 | $155M | $94M | $220M |
| December 2025 | $151M | $78M | $220M |
| November 2025 | $151M | $93M | $210M |
| October 2025 | $134M | $74M | $194M |
| September 2025 | $74M | $44M | $105M |
| August 2025 | $58M | $36M | $81M |
| July 2025 | $41M | $20M | $62M |
| June 2025 | $43M | $21M | $65M |
| May 2025 | $43M | $18M | $68M |
| April 2025 | $42M | $18M | $66M |
| March 2025 | $44M | $16M | $71M |
| February 2025 | $43M | $15M | $72M |
| January 2025 | $41M | $14M | $68M |
| December 2024 | $44M | $20M | $68M |
| November 2024 | $36M | $18M | $54M |
| October 2024 | $42M | $19M | $65M |
| September 2024 | $40M | $18M | $62M |
| August 2024 | $32M | $18M | $45M |
| July 2024 | $28M | $16M | $40M |
| June 2024 | $18M | $11M | $25M |

## Polymarket valuation

Polymarket's valuation rose from $350M at its venture round in July 2024 to $21B at its venture round in September 2026. Specter's live estimate sits between $18.7B and $26.8B.

| Month | Specter estimate | Low | High |
| --- | --- | --- | --- |
| October 2026 | $22.4B | $18.7B | $26.8B |
| September 2026 | $21B | $17.5B | $25.3B |
| August 2026 | $17.8B | $14.7B | $21.5B |
| July 2026 | $15B | $12.5B | $18B |
| June 2026 | $11.6B | $9.33B | $14.5B |
| May 2026 | $9B | $7.49B | $10.8B |
| April 2026 | $10.4B | $8.65B | $12.5B |
| March 2026 | $12B | $9.98B | $14.4B |
| February 2026 | $9.8B | $7.98B | $12B |
| January 2026 | $8B | $6.65B | $9.62B |
| December 2025 | $9B | $7.49B | $10.8B |
| November 2025 | $9B | $7.34B | $11B |
| October 2025 | $9B | $7.49B | $10.8B |
| September 2025 | $3.29B | $2.65B | $4.08B |
| August 2025 | $1.2B | $1B | $1.44B |
| July 2025 | $1.09B | $510M | $2.34B |
| June 2025 | $990M | $500M | $1.98B |
| May 2025 | $900M | $470M | $1.72B |
| April 2025 | $820M | $450M | $1.49B |
| March 2025 | $750M | $430M | $1.29B |
| February 2025 | $680M | $420M | $1.1B |
| January 2025 | $620M | $400M | $960M |
| December 2024 | $560M | $380M | $820M |
| November 2024 | $510M | $360M | $730M |
| October 2024 | $470M | $350M | $620M |
| September 2024 | $420M | $330M | $540M |
| August 2024 | $390M | $320M | $480M |
| July 2024 | $350M | $290M | $420M |
| June 2024 | $350M | $290M | $430M |

| Reported valuation | Month | Source |
| --- | --- | --- |
| $21B | September 2026 | Funding round |
| $15B | July 2026 | [finance.yahoo.com](https://finance.yahoo.com/markets/options/articles/trump-jr-investment-fund-backed-214500975.html) |
| $9B | May 2026 | [wired.it](https://www.wired.it/article/scommesso-caldo-parigi-previsione-polymarket/) |
| $12B | March 2026 | [fintechnews.ch](https://fintechnews.ch/fintechusa/top-10-fintech-startups-in-the-us/82361/) |
| $8B | January 2026 | [forbes.sk](https://www.forbes.sk/pozadie-obchodu-ktory-z-majitela-stavkoveho-webu-urobil-jedneho-z-najmladsich-miliardarov-planety/) |
| $9B | December 2025 | [forbes.fr](https://www.forbes.fr/business/dans-les-coulisses-de-laccord-qui-a-fait-du-fondateur-de-polymarket-lun-des-plus-jeunes-milliardaires-de-la-planete/) |
| $9B | October 2025 | Funding round |
| $1.2B | August 2025 | Funding round |
| $350M | July 2024 | Funding round |

## Polymarket funding rounds

| Date | Round | Raised | Post-money | Lead investors |
| --- | --- | --- | --- | --- |
| 1 Sep 2026 | Venture round | $1B | $21B | 1789 Capital |
| 14 May 2026 | Corporate round | $100K | Undisclosed | Neptune Digital Assets |
| 20 Apr 2026 | Series E | $400M | Undisclosed | G Squared, D. E. Shaw & Co. |
| 27 Mar 2026 | Series E | $600M | Undisclosed | Intercontinental Exchange |
| 7 Oct 2025 | Series D | $1B | $9B | Intercontinental Exchange |
| 26 Aug 2025 | Series C | $150M | $1.2B | Founders Fund |
| 1 Jul 2024 | Venture round | $55M | $350M | Blockchain Capital |
| 14 May 2024 | Series B | $45M | Undisclosed | Founders Fund |
| 1 Nov 2022 | Series A | $29M | Undisclosed | Undisclosed |
| 1 Jan 2021 | Series A | $25M | Undisclosed | General Catalyst |
| 19 Oct 2020 | Seed | $4M | Undisclosed | Polychain |

## Polymarket vs competitors

The prediction market sector splits between CFTC-regulated exchanges and decentralized on-chain protocols.

| Company | Estimated revenue | Estimated valuation |
| --- | --- | --- |
| Polymarket | $1.5B–$2.16B | $18.7B–$26.8B |
| Kalshi (kalshi.com) | $3.32B–$5.34B | $33.3B–$48.1B |
| Limitless Labs (limitless.exchange) | $27M–$74M | $108M–$410M |
| Probo (probo.in) | $7.1M–$30M | $30M–$126M |
| Prodesign (predictit.org) | $4.3M–$27M | $12M–$153M |

## Questions

### What is Polymarket's revenue?

Specter estimates Polymarket's annual revenue at $1.5B to $2.16B as of October 2026. Polymarket last reported $1.8B revenue in November 2026, up from $261M in May 2026.

### What is Polymarket's valuation?

Polymarket's latest post-money valuation is $21B, from a September 2026 venture round. Specter's live estimate is $18.7B to $26.8B.

### What is Polymarket's revenue multiple?

Polymarket is valued at about 11.7× revenue, based on its $21B September 2026 valuation and $1.8B last reported revenue. That works out to roughly $3.03M of revenue per employee.

### How much funding has Polymarket raised?

$3.31B across 11 rounds, from a $4M Seed in October 2020 to a $1B venture round in September 2026.

### Who invested in Polymarket?

60 investors, including 1789 Capital, D. E. Shaw & Co., Founders Fund, G Squared, Intercontinental Exchange and Neptune Digital Assets.

### Who are Polymarket's competitors?

Kalshi, Limitless Labs, Probo and Prodesign. Specter ranks 30 competitors for Polymarket.

## About this data

Specter models revenue and valuation monthly and anchors each estimate to reported figures and priced rounds. Method: https://www.tryspecter.com/revenue-valuation

Cite as: Specter. "Polymarket revenue and valuation." tryspecter.com/revenue-valuation/polymarket. Updated November 2026.