- US prediction market Kalshi is reviewing funding proposals that might enhance its valuation to $10–$12 billion, simply two weeks after a $300 million elevate at a $5 billion valuation.
- Kalshi’s rival, Polymarket, is in talks for a possible $2 billion funding from Intercontinental Alternate at a $9 billion valuation.
- Each platforms’ competitors is intensifying following a federal court docket ruling that cleared the best way for US election markets, driving exercise to document ranges.
US prediction market Kalshi is reviewing funding proposals from enterprise buyers that may catapult its valuation by roughly double its present $5 billion valuation.
The information comes simply two weeks after it raised over US$300 million (AU$465 million) in a spherical co-led by Andreessen Horowitz, now at a US$5 billion (AU$7.75 billion) valuation.
Quick-forward right now, Bloomberg’s sources say a number of VC buyers are providing to fund the corporate at US$10–$12 billion (AU$15.5–$18.6 billion). “Traders have been desirous to again the fast-growing startup, and have mentioned funding the corporate at valuations starting from $10 billion to $12 billion or greater,” the report reads.
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Polymarket vs. Kalshi
In the meantime, Rival Polymarket stated Intercontinental Alternate intends to take a position as much as US$2 billion (AU$3.10 billion) at a US$9 billion (AU$13.95 billion) post-money valuation.
Kalshi, based in 2018, runs a regulated venue for buying and selling contracts on real-world outcomes spanning US elections, macro releases, sports activities outcomes, political occasions, and so forth, much like Polymarket however regulated underneath a CFTC license.
Nevertheless, Polymarket’s CEO stated the platform has clearance to function in the USA after halting there in 2022, because it secured a CFTC license to re-launch its platform within the US market.
A federal court docket ruling in October 2024 cleared the best way for presidential-election markets, lifting exercise to document ranges, and chief government Tarek Mansour stated this month the change has reached an annualised quantity of US$50 billion (AU$77.5 billion).
Each platforms have contrasting fashions, but the competitors between the 2 is intensifying, and it seems to be like Kalshi is catching as much as Polymarket when it comes to notional quantity, as per information from Dune Analytics.
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