Polymarket And Kalshi Prepare Billions In New Funding Rounds

Tech

Polymarket And Kalshi Prepare Billions In New Funding Rounds

• Polymarket valuation could hit $10B with fresh investor deals
• Kalshi nears $5B funding milestone with Robinhood partnership
• Coinbase explores entering prediction markets as competition grows

Polymarket Pushes Toward $10B Valuation

Forecasting platforms and are drawing massive attention from investors as they prepare for new funding rounds that could catapult their valuations into the billions. According to and , both platforms are in advanced talks with major backers.

Polymarket is reportedly entertaining offers valuing the company at up to $9 billion, with at least one investor considering a $10 billion deal. Such a valuation would mark a dramatic leap from its previous round, underscoring surging interest in the prediction market sector.

Polymarket gained popularity amid betting on the 2024 U.S. presidential election. Source: Token Terminal

Notably, Peter Thiel‘s Founders Fund is among Polymarket’s investors. The platform has also struck a partnership with X (formerly Twitter), becoming its official forecasting partner — a move that further strengthens its mainstream reach.

Kalshi Gains Momentum With $5B Deal

Kalshi, which operates as a CFTC-regulated prediction market in the United States, is reportedly close to finalizing a funding deal worth $5 billion. Just a few months ago, the platforms valuation stood at $2 billion, highlighting rapid growth.

Backed by Paradigm and Sequoia Capital, Kalshi has also entered a strategic partnership with Robinhood, giving it access to millions of retail investors.

Trading Volumes Cool Off But Competition Heats Up

Despite heightened investor interest, both platforms saw trading activity decline in August 2025. Polymarket‘s volumes slipped to $1 billion, while Kalshi’s fell to $875 million.

Still, the broader market is becoming increasingly competitive. Coinbase is reportedly exploring its own prediction platform, while Crypto.com and Underdog have already launched services across 16 U.S. states.

With investor money pouring in and new players entering the field, prediction markets appear to be moving from niche experiments into mainstream financial products.