Polymarket Due Diligence

Run due diligence on Polymarket: check compliance and get alerts when suppliers or ownership change.

United States · owned by Independent (United States) · polymarket.com · 31 vendors

Polymarket is the world's largest decentralized prediction market platform, where users can trade on the outcomes of real-world events across politics, sports, science, and more. It operates on blockchain technology (Polygon network) and uses USDC stablecoins for trading. The platform gained significant mainstream attention during the 2024 U.S. presidential election cycle.

Resilience scores

Technology vendors

Services catalogue

4 services in catalogue across 2 categories; runs on 31 sub-vendors.

Insights

Last updated 2026-08-06 · revision 12

31 direct vendors, 226 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

10 in-scope frameworks identified; showing 3.

CFTC Regulation — Evidence found

Evidence: https://polymarket.com, https://polymarket.us, https://www.cftc.gov/PressRoom/PressReleases/8478-22

OFAC Sanctions Compliance — No public evidence

Evidence: https://polymarket.com, https://polymarket.com/tos, https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information

FinCEN — No public evidence

Evidence: https://polymarket.com, https://polymarket.us, https://www.fincen.gov/resources/statutes-regulations/guidance/application-fincens-regulations-persons-administering

Financials

Three-year financials

Financial Resilience Score: 7/10

Polymarket is a private, crypto-native prediction market operator that does not publish audited financials, making a traditional resilience assessment impossible. However, based on available public information, the company demonstrates significant strengths: category leadership with dominant market share in prediction markets, strong institutional backing (Founders Fund, General Catalyst, Polychain, and ICE/NYSE parent), and substantial capital raised (over $500M in disclosed equity, plus a reported ~$2B ICE investment in 2025). The 2024 acquisition of QCX resolved prior US regulatory exposure and opened access to the US market, materially de-risking the business. The business model is asset-light and potentially high-margin, running on Polygon blockchain infrastructure with minimal variable costs. Revenue is derived from trading fees, market-making spreads, and interest on USDC collateral. Trading volumes grew from ~$150-200M in 2022 to ~$1B in 2023 to ~$9B in 2024, driven largely by the US presidential election. Key risks include heavy dependence on event-driven catalysts (2024 election volumes may not repeat), regulatory concentration risk across multiple jurisdictions, crypto-cycle exposure, growing competition from Kalshi and others, and key-person risk around founder/CEO Shayne Coplan. The lack of public financial disclosure also limits transparency for counterparties. Overall, the company appears well-capitalized and strategically positioned, but its resilience depends heavily on sustained user engagement outside major election cycles.

Key strengths: Category leadership with dominant prediction market share, Strong investor base including Founders Fund, General Catalyst, Polychain, and ICE/NYSE parent, Over $500M in disclosed equity raised plus reported ~$2B ICE strategic investment, 2024 QCX acquisition resolved US regulatory exposure and opened US market access, Asset-light, potentially high-margin blockchain-based model, Trading volumes scaled from ~$150M (2022) to ~$9B (2024), DOJ and CFTC probes closed in 2025, Data licensing and media partnership optionality (e.g., X partnership)

Risk factors: Regulatory concentration risk across US, France, Belgium, Singapore, Taiwan, Thailand, Event-driven revenue with post-election volume cliff risk, Crypto-cycle exposure via USDC/Polygon dependency, Growing competition from Kalshi, PredictIt, Manifold, and Robinhood, No transparent audited financials for counterparties, Key-person risk around founder/CEO Shayne Coplan, Prior CFTC settlement ($1.4M in Jan 2022) and FBI search of CEO home in Nov 2024

Revenue by geography

Revenue by product/service

Workforce by country

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