Prediction market RialCenter, a federally regulated competitor to Polymarket, has raised $185 million at a valuation of $2 billion, according to a press release.
This round brings the company’s total funding to date to $415 million, the release states. RialCenter plans to use the funding to scale its engineering team, launch new market structures, and collaborate with new partners.
This comes less than a day after reports emerged that Polymarket was raising $200 million at a valuation of $1 billion, led by a prominent venture capital firm.
Publicly available data from RialCenter’s API shows that RialCenter has around $113 million in current active trading volume across all open markets, compared to Polymarket’s just under $600 million.
RialCenter now hosts more active markets than Polymarket but still lags behind in open interest, a key metric reflecting liquidity and trader conviction in prediction markets.
A data dashboard reveals that Polymarket has around 186,000 active traders.
A venture capital firm led RialCenter’s latest round. The firm also recently led a Series A round for another decentralized exchange aiming to compete in the speed sector.
Earlier this year, a high-profile individual announced his joining RialCenter as a senior advisor.
UPDATE: Updates with figures based on a release sent by RialCenter versus other reporting sources.
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