• Polymarket announces the launch of prediction markets tied to private companies.
• The Nasdaq Private Market will serve as the resolution data provider, creating an additional price discovery tool for investors.
• Prediction markets will cover various events, including valuation, IPO timings and secondary market activity.

Polymarket launched on Tuesday prediction markets linked to the performance of private companies, effectively providing investors with access to startups and unicorns with a combined valuation of over $5 trillion.

Polymarket parted with Nasdaq Private Market

Polymarket's new offering targets several private-company-related events, including valuations, Initial Public Offering (IPO) timing, and secondary-market activity. According to a Reuters report, the offering paves the way for a new price-discovery tool for institutional investors. The Nasdaq Private Market is a key pillar of the new prediction markets, providing resolution data. 

Meanwhile, the launch comes at a time when companies are staying private longer, even though their valuations exceed or are comparable to those of S&P 500 companies. Polymarket estimates that nearly 1,600 unicorns and startups worldwide boast a combined valuation of more than $5 trillion, attracting growing investor interest in private markets.

Polymarket is the largest on-chain prediction market, covering broad events such as crypto, politics, finance, sports and weather. The platform has captured over 97% of all on-chain prediction markets fees, underscoring the growing demand in the sector. 

Defi Llama data shows that Polymarket's annualized fees average $438 million, while its revenue stands at $239 million. Polymarket recently completed a comprehensive fee model restructure and a software upgrade that improved wallet safety protocols.