Aug 4 (Reuters) - Polymarket is seeking to raise funds at a

valuation of more than $20 billion, Bloomberg News reported on

Tuesday, citing people familiar with the matter.

The prediction markets platform is holding early discussions

to raise about $1 billion in the funding round, the report

added.

Reuters could not independently verify the report.

Polymarket did not immediately respond to a Reuters request for

comment.

Prediction markets, which let users wager on yes-or-no

outcomes across a wide range of events, have exploded in

popularity and are garnering strong investor interest.

Peer Kalshi said earlier this year that it had raised $1

billion at a $22 billion valuation. Polymarket's latest

discussions come after it raised $1 billion at a $15 billion

valuation in April, the report said.

New York Stock Exchange parent Intercontinental Exchange ( ICE )

invested $600 million in Polymarket earlier this year,

which the report said was a part of the April funding round.

Polymarket's annualized revenue had surpassed $1 billion,

Reuters reported in June, citing a source familiar with the

matter.