Polymarket, a crypto-based betting platform, is reportedly nearing a $200 million funding round led by Peter Thiel's Founders Fund, which would value the company at $1 billion. The significant investment highlights growing interest in prediction markets and decentralized finance platforms. Polymarket allows users to bet on real-world events using cryptocurrency, operating in a regulatory gray area. The platform has faced scrutiny from U.S. regulators in the past but continues to expand its offerings. This potential funding round marks a major milestone for the prediction market sector.