Polymarket and Kalshi prediction platforms seek to raise new capital, with valuations that would reach unpublished levels. Polymarket would target an amount greater than that of its competitor, in a context where the decentralized Paris markets are increasingly attracting the attention of the great actors of the crypto.
In short
- Polymarket is in negotiations for agreements promoting the company up to $ 10 billion, up sharply for 1 billion only a few months ago.
- Kalshi approaches a valuation of $ 5 billion, dubbing since its initial financing round of 2 billion.
- The two companies associate themselves with giants like Robinhood and X to extend the prediction markets.
- The markets have raised a record of $ 216 million in Paris agreements this year, three times the total of 2024.
Polymarket and Kalshi in search of billions
According to anonymous sources, the media The Information has reported that Polymarket is in negotiations for an investment agreement which could enhance the company up to $ 9 billion. With a valuation of 1 billion only a few months ago, the last valuation would represent a considerable leap compared to its previous financing round.
According to business reports, an investor even presented a conditions of conditions Evaluating the company at $ 10 billion.
At the same time, The Information simultaneously reported that another actor, Kalshi, is in negotiations for an investment promoting the company to $ 5 billion. Kalshi had been valued at 2 billion in his first financing round, which means that current valuation is more than doubled.
For the moment, the two Paris platforms are using different operational approaches. Kalshi operated as a platform approved by the CFTC in the United States, requiring dollar deposits and using traditional KYC for registration.
Polymarket, on the other hand, works as a decentralized Paris market which runs on the Polygon network and uses regulations in USDC. It offers pseudonym trading and global accessibility.
Kalshi investors include large companies such as paradigm and sequoia capital. Polymarket is supported by Founders Fund, the venture capital firm launched by Peter Thiel.
In recent months, the activity gap between the two platforms seems to have been reduced, the difference in volume in August is only $ 125 million.
The rise of decentralized bets
With the rise of decentralized bets, most large Crypto companies are eager to enter the niche of legal money games. Underdog and Crypto.com both launched a decentralized sports betting market on American soil, Coinbase preparing the land for possible deployment.
In addition, other platforms combine with the main decentralized sports betting markets. Polymarket has become the official X prediction partner (formerly Twitter), while Kalshi concluded a partnership with the Robinhood trading application.
Market data show that 2025 has been the strongest year to date for the prediction markets in terms of capital investments. According to The Block, the Paris platform has lifted more than $ 216 million through 11 agreements just this year. In comparison, only 80 million were raised in 2024, and around 60 million in 2021.
Polymarket, which offers Paris options for events such as elections and sports, including NFL football, has received the operational green light in the United States. In a recent report, the company announced that it had obtained an without action reduction from the CFTC to extend its offer of term contracts.
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