Peter Thiel's venture firm bets on Polymarket, a cryptocurrency prediction market
Peter Thiel's Founders Fund is investing in one of the largest cryptocurrency prediction markets, Polymarket, despite increasing restrictions on such platforms by major US regulators.
Polymarket raised $45 million in a Series B funding round. The round was led by Founders Fund, with participation from Ethereum co-founder Vitalik Buterin, 1confirmation, ParaFi, and Dragonfly Capital. Polymarket's total funding now amounts to $70 million.
The company attracts users by predicting the outcomes of various events, with bets on the 2024 US presidential election becoming its most popular contract on the platform.
Wherever you look—it's all for the gamblers.
