Polymarket Targets $3 Billion Valuation in New Funding Round
According to The Information, prediction market platforms Polymarket and Kalshi are seeking funding at valuations of $9 billion and $5 billion respectively, underscoring rapid growth in the sector.
Summary
Polymarket is reportedly targeting a $9 billion valuation in its latest funding round, up from $1 billion in its previous raise, with at least one investor term sheet valuing the company at $10 billion. Kalshi is nearing a $5 billion valuation, more than doubling from $2 billion just months earlier. Both platforms are experiencing strong growth, with Kalshi recording $875 million in trading volume in August compared to Polymarket’s $1 billion, narrowing the gap between the two rivals.
Terms & Concepts
- Prediction Market: A platform that allows users to trade contracts based on the outcomes of future events, with prices reflecting the perceived probability of those outcomes.
- Valuation: The estimated market value of a company, often determined during funding rounds based on investment and equity offered.