- Kalshi’s valuation could soar to $12 billion with new investments.
- Polymarket competes fiercely, eyeing $9 billion valuation and new deals.
- Sports betting boom boosts prediction markets, including Kalshi and Polymarket.
Kalshi, the U.S.-regulated prediction market platform, is on the brink of securing investments that could push its valuation to as high as $12 billion. This comes just weeks after the company raised over $300 million at a $5 billion valuation, signaling strong investor confidence in its rapid growth.
According to sources, investors are eager to get in on the action, with funding talks ranging from $10 billion to $12 billion.
Fierce Competition Fuels Rapid Growth in the Prediction Market Space
Meanwhile, Kalshi’s competition is heating up. Polymarket, another key player in the prediction market space, has secured an impressive deal with Intercontinental Exchange to invest up to $2 billion, raising its own valuation to $9 billion.
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This follows Polymarket’s announcement that it has received approval to resume operations in the U.S., a market it had previously halted in 2022.
The rising interest in prediction markets comes as sports betting continues its explosive growth. Kalshi is capitalizing on this trend, recently teaming up with Robinhood to launch a new football prediction market.
This partnership allows users to wager on game outcomes, expanding Kalshi’s reach to Robinhood’s vast user base. On the other hand, Polymarket is positioning itself as the designated clearinghouse for DraftKings should it choose to enter the prediction market space following its acquisition of Railbird.
Expanding Footprint and Future Plans in the Industry
Both platforms have also secured multi-year licensing agreements with the National Hockey League, a deal that further boosts their credibility in the sports prediction and betting markets.
Kalshi’s Head of Crypto, John Wang, recently shared that the company plans to have its prediction market available across major crypto platforms and exchanges in the next year, signaling its aggressive expansion strategy.
The intense competition between Kalshi and Polymarket reflects a rapidly growing industry where both platforms are making strategic moves to establish dominance. With backing from major investors and a strong focus on sports betting, Kalshi is poised to reach new heights as it continues to expand its footprint in the prediction market space.
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