Investors Place Kalshi’s Valuation at $12 Billion Amid Rapid Growth in Prediction Markets
- Kalshi, a U.S.-regulated prediction market platform, now valued at $12B after a $300M funding round, faces rising competition from Polymarket. - Both platforms expand into sports betting, with Kalshi partnering Robinhood and Polymarket securing DraftKings ties, while NHL licenses their services. - Kalshi achieved $50B in annualized trading volume but faces regulatory challenges, including state gaming disputes over sports betting models. - CFTC approval gives Kalshi a regulatory edge, but unresolved lega
Kalshi, a prediction market platform operating under U.S. regulations, has drawn significant attention in the competitive event trading industry, with venture capitalists reportedly considering a valuation as high as $12 billion, according to a
Recent funding proposals, which could elevate Kalshi’s worth to $10 billion or more, are emerging alongside a broader surge in the prediction market industry. Competing platform Polymarket has also experienced a spike in activity, recently receiving a $2 billion investment from Intercontinental Exchange at a $9 billion valuation. Both firms are looking to expand into the sports betting arena, a move that could accelerate their growth. For example, Kalshi joined forces with
Kalshi’s swift rise is highlighted by its recent milestone of reaching $50 billion in annualized trading volume, underscoring its appeal as a regulated alternative to crypto-focused platforms. CEO Tarek Mansour has stated the company’s goal is to integrate its prediction markets into “every major crypto application and exchange” within a year. Still, the industry faces regulatory challenges. While the Commodity Futures Trading Commission (CFTC) has approved Kalshi’s operations, state-level gaming authorities have raised concerns about aspects of its business model, especially regarding sports betting, according to a
The rivalry between Kalshi and Polymarket is growing more intense as both seek to lead the market. Intercontinental Exchange’s $2 billion investment in Polymarket highlights the competition, but Kalshi’s CFTC approval and early legal wins—including a 2024 court decision permitting it to offer presidential election contracts—provide it with a regulatory advantage. Investors are wagering that Kalshi’s structured strategy will help it secure a leading role in a sector expected to expand as mainstream financial institutions begin to explore event trading as a new asset category.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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