Prediction market platform Polymarket has secured a new funding round at a $12 billion valuation, signaling increased ambition and growth despite the uncertain cryptocurrency landscape. This move follows closely after Kraken’s confidential IPO filing for a $20 billion valuation, prompting speculation about whether Polymarket will follow a similar path toward public markets. The company is currently seeking capital to support its rapid expansion. Key highlights include: 1) Polymarket’s total trading volume has soared above $18 billion this year; 2) Their user base expanded significantly, from 20,000 to nearly 58,000 daily active users, with a corresponding increase in traders. This growth was fueled by speculation surrounding the upcoming launch of their native POLY token and partnerships with mainstream brands like UFC.