Polymarket, a decentralized prediction market platform, has successfully raised $45 million in its Series B funding round. The investment was led by Peter Thiel's Founders Fund, with participation from prominent investors such as Vitalik Buterin, Kevin Hartz, and others. This funding marks a significant milestone for Polymarket, which has already seen immense success with over $202 million worth of predictions made on its platform this year alone.

Polymarket's platform utilizes the Ethereum blockchain and smart contracts to enable users to speculate on real-world events using stablecoins in a transparent and trustless manner. The platform has gained popularity, with over $125 million bet on the outcome of the US election alone. Founders Fund Partner Joey Krug expressed enthusiasm for Polymarket, stating that it has made the vision for prediction markets a reality and has become an essential tool for understanding public opinion.

Despite a recent proposal by the Commodity Futures Trading Commission to crack down on event contracts, Polymarket has continued to thrive. The platform has also announced the appointment of Richard Jaycobs, a veteran futures industry executive, as its Head of Market Expansion. Jaycobs will explore the possibility of US-regulated activities and work closely with former CFTC Chairman J. Christopher Giancarlo, who serves as Polymarket's advisory board Chair.

Giancarlo praised Polymarket's commitment to building a strong and sustainable business, stating that the financing puts the company in a remarkable position to expand its international success and product leadership. With this funding, Polymarket is poised to continue its growth and innovation in the prediction market space.