Is anybody considering the secondary Polymarket is running on Crowdcube?
They reported $10B in volume and they are raising at $15B valuation. With a 2% fee, that means $200M is revenue which means a 75x P/E, which is high. But world sport betting market revenue is $300B, that is 1500x their current revenue. Plus the pre-IPO betting on private company they announced last week could be huge
It seems they raised very little (under $600k). A potential concern is that they are offering series B preferred shares, which is probably worse than what they are offering to large investors, but this is a pre-IPO retail offering after all, so I am not sure how bad it actually is.