(Reuters) -Polymarket is in early discussions with investors and looking to raise funds at a valuation between $12 billion and $15 billion, Bloomberg News reported on Wednesday, citing people familiar with the matter.
Polymarket did not immediately respond to a Reuters request for comment.
In June, the world’s biggest prediction market was close to raise $200 million in a funding round that would value it at more than $1 billion, Reuters reported.
Polymarket allows users to place bets using cryptocurrency on real-world events.
Earlier this month, Intercontinental Exchange announced that it would invest up to $2 billion in Polymarket as it prepares to re-enter the U.S. more than three years after restricting American users.
Prediction markets, where users wager on outcomes across sports, entertainment, politics and the economy — including bets on when the U.S. government shutdown will end and the least-streamed song on Taylor Swift’s latest album — have seen a surge in institutional interest since the presidential election last year.
(Reporting by Anusha Shah in Bengaluru; Editing by Alan Barona)
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