Polymarket, one of the leading on-chain prediction markets, has formally enabled Bitcoin deposits. The expansion to the BTC network seeks to add new liquidity and accessibility before the reported $200 million funding.
The move comes months after its March launch on Solana, which enabled deposits in Solana’s native token, SOL.
Since the platform blew up after the US presidential election last year, the firm has mainly worked with USDC as its primary deposit token across several chains like Polygon and Ethereum. The correct outcome shares pay out $1.00 in USDC at resolution, and users can withdraw native USDC or USDC.e according to the platform’s documentation.
Bitcoin deposits.
Now live. pic.twitter.com/FDKlcH3TCS
— Polymarket (@Polymarket) October 6, 2025
As of today, the platform has added direct Bitcoin deposits. This will allow users to participate in speculating on real-world events, ranging from political elections to global conflicts and economic outcomes, using BTC.
Polymarket traders bet on record $130K BTC price before November 1
On Polymarket’s “What price will Bitcoin hit in October?” traders currently assign the highest odds of 60% to a $130,000 peak before November 1. Bettor expectations echo seasonally bullish price action in the fourth quarter.
Additionally, the timing is notable, as Bitcoin recently set a new all-time high above $126,000. This surge comes as Bitcoin ETFs logged the second-highest inflow since their launch in January 2024. According to data from SoSoValue, these funds generated a total of $1.19 billion in inflows as of October 6, with BlackRock’s iShares Bitcoin Trust (IBIT) leading the way with $967 million.
In addition, crypto-supportive US Senator Cynthia Lummis hinted that funding for the long-discussed US Strategic Bitcoin Reserve could begin soon. In a recent X post, Lummis stated that although the legislative process remains “a slog,” thanks to the US president Donald Trump, the “acquisition of funds for an SBR can start anytime.”
According to CoinGlass data, BTC has averaged a 79% increase in Q4 since 2013. Analysts from JPMorgan and Standard Chartered also suggest that Bitcoin could end the year trading between $165,000 and $200,000. Meanwhile, Bitcoin is trading at around $124,464 on Tuesday, up over 10% in the past week,
Investors circle a $1 billion valuation
Polymarket’s expansion comes amid reports that the company is finalizing a $200 million funding round led by Peter Thiel’s Founders Fund, which may make it worth approximately $1 billion.
However, the US did not allow Polymarket to enjoy a smooth ride because of ongoing restrictions for American users. After being effectively banned by the CFTC for four years, Polymarket began self-certifying its own event contracts, leveraging its authority to do so through the CFTC-licensed exchange it acquired in July.
Polymarket acquired QCX LLC, now operating as Polymarket US, for $112 million. By acquiring the company, Polymarket gained a Designated Contract Market license, which grants it the ability to self-certify markets available to U.S. users.
Additionally, its recent partnership with Elon Musk’s social media platform X, which integrates its prediction data with the AI chatbot Grok, has further boosted its visibility.
Meanwhile, the platform now hosts over 21,000 active markets. The market has seen a 25% surge in monthly users, currently sitting at 259,000 monthly users. Additionally, it has seen a 43% surge in trading volume over the last 30 days, currently standing at $1.5 billion.
