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Polymarket is weighing new financing at a valuation as excessive as $10 billion alongside plans for a relaunch within the US, whereas competitor Kalshi is nearing a $5 billion fundraising.
Based on a report by Enterprise Insider that cited sources conversant in the matter, Polymarket has thought-about one supply that may worth the corporate at $9 billion, and one other that “provided a time period sheet valuing Polymarket as excessive as $10 billion.”
That might be an enormous bounce in valuation for the corporate, which raised funding at a $1 billion valuation early in the summertime, the article mentioned.
Polymarket raised $200 million in June, led by Peter Thiel’s Founders Fund, the enterprise agency that was an early backer of initiatives akin to OpenAI, Paxos and Palantir.
Polymarket Seems to be To Re-Enter The US Market
Polymarket is a decentralized platform that lets customers commerce occasion outcomes with out a centralized bookmaker. It gained prominence through the 2024 US presidential election, the place its market precisely predicted that Donald Trump would win.
Polymarket processed over $8 billion in wagers through the US election marketing campaign, producing extra on-line visitors than sports activities betting giants FanDuel, DraftKings and Betfair.
In 2022, Polymarket was barred from serving US customers after a settlement with the Commodity Futures Buying and selling Fee (CFTC). However in July it purchased the Florida-based derivatives trade QCX for about $112 million, paving for a possible to re-entry into the US market.
The CFTC issued a no-action letter to QCX earlier this month, which grants retail aid from sure federal reporting and report retaining necessities for occasion contracts.
Polymarket CEO Shayne Coplan commented on that call on X on the time, saying it provides the platform a “inexperienced mild to go stay within the USA.”
Polymarket has been given the inexperienced mild to go stay within the USA by the @CFTC.
Credit score to the Fee and Workers for his or her spectacular work. This course of has been achieved in report timing.
Keep tuned https://t.co/NVziTixpqO
— Shayne Coplan 🦅 (@shayne_coplan) September 3, 2025
Kalshi Nears Fundraising At $5 Billion Valuation
In the meantime, The Data reported that Polymarket rival Kalshi is closing on a brand new funding that may worth it at about $5 billion.
In June, Kalshi secured $185 million at a $2 billion valuation, with Paradigm main that funding spherical. Different buyers included Sequoia, Multicoin, Neo and Bond Capital.
Kalshi ranks among the many most lively prediction markets, alongside Polymarket, by way of buying and selling volumes and month-to-month lively customers.
The platform began gaining momentum following a 2024 courtroom ruling that allowed it to supply political-event contracts. The CFTC had appealed the ruling, however ended up voluntarily dropping this attraction in Could this yr.
Kalshi continues to be dealing with authorized scrutiny in a number of US states over whether or not a few of its occasion contracts represent playing fairly than permissible derivatives.
For the reason that US presidential election ended, each Polymarket and Kalshi have seen their lively person bases shrink.
Regardless of that, market watchers say that momentum is shifting within the predictions market area, primarily fueled by the beginning of the Nationwide Soccer League season. Market analyst Tarek Mansour famous this week that Kalshi processed $441 million in quantity since kickoff.
Weekly prediction market notional quantity (Supply: X)
Competitors within the area can be heating up as extra corporations push to get a share of the rising predictions market area. These corporations embrace Coinbase, Crypto.com and Underdog, who’re both exploring or rolling out their very own platforms.
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