Polymarket, Kalshi Seek Funding at $10B, $5B Valuations

Prediction market platforms Polymarket and Kalshi are experiencing significant valuation increases amid plans for new funding rounds, with Polymarket potentially reaching a $10 billion valuation and Kalshi nearing $5 billion. Polymarket, which was previously barred from serving U.S. users, has received a regulatory green light from the Commodity Futures Trading Commission (CFTC) to resume U.S. operations through its acquisition of QCX LLC, positioning it for a major U.S. relaunch. Polymarket's CEO and strategic partnerships, including with Donald Trump Jr.'s venture capital firm 1789 Capital, emphasize its goal to blend financial innovation with free expression and political insight. Kalshi operates as a CFTC-regulated entity targeting institutional and retail investors, while Polymarket appeals to crypto-native users with its decentralized model. Both platforms are scaling rapidly, with recent trading volumes approaching or exceeding $1 billion monthly, reflecting growing investor confidence in prediction markets as mainstream financial products. This resurgence in the sector has driven over $216 million in funding across 2025, highlighting the expanding role of prediction markets in fintech.