Polymarket Says Arena Reached $3.1 Billion Valuation in New Funding Round

Polymarket said Arena, the AI model-ranking platform formerly known as LMArena, has reached a $3.1 billion valuation in a new funding round. The reported price would mark a sharp step-up for a company whose last confirmed financing was a $150 million Series A at a $1.7 billion post-money valuation in January.