Polymarket, in partnership with Nasdaq, has launched prediction markets on private companies.

Polymarket, in partnership with Nasdaq Private Market, has launched prediction markets tied to the performance of private companies. Nasdaq Private Market will serve as the data provider for contract settlement.

Users will be able to trade on events such as changes in company valuations, IPO timelines, and secondary market activity. According to Polymarket, this new tool also creates an additional price-discovery mechanism for institutional investors.

The launch comes amid a growing trend of companies remaining private for longer periods: around 1,600 unicorns worldwide are collectively valued at over $5 trillion.