Polymarket, a decentralised prediction market platform utilising the Ethereum (CRYPTO:ETH) blockchain, has raised $45 million in a Series B funding round led by Peter Thiel’s Founders Fund, with participation from Vitalik Buterin, Dragonfly, and Eventbrite co-founder Kevin Hartz.

The platform allows users to speculate on real-world events using stablecoins in a transparent and trustless way.

Polymarket also revealed a previously unannounced $25 million Series A round led by General Catalyst.

Despite regulatory scrutiny from the CFTC, Polymarket has facilitated $202 million in predictions this year, with $125 million focused on the U.S. election.