Key Highlights
- 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 Polymarket and Kalshi are drawing massive attention from investors as they prepare for new funding rounds that could catapult their valuations into the billions. According to The Information and Business Insider, 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.
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 platform’s 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.
