Kalshi and Polymarket Eye $20 Billion Valuations in Fundraising Talks
- Kalshi and Polymarket are discussing fundraising rounds that could value each company at approximately $20 billion.
- Both companies’ valuations would double from late last year, with Kalshi previously valued at $11 billion after raising $1 billion.
- Kalshi operates under the approval of the Commodity Futures Trading Commission and has an annualized revenue run rate of about $1.5 billion.
- Polymarket was valued at $9 billion following a significant investment from Intercontinental Exchange.
- Open interest on Kalshi is over $400 million, while Polymarket’s is at $360 million, indicating strong market engagement.
Prediction markets have gained popularity, allowing users to trade contracts based on real-world events across various categories such as sports and politics. The growing interest has attracted major players like Coinbase and Robinhood into the sector, highlighting its potential for substantial revenue generation.
If successful, these fundraising efforts could significantly enhance both platforms’ market positions, with weekly trading volumes recently reported at $1.9 billion for Polymarket and $1.87 billion for Kalshi.(Source)
