Polymarket and Kalshi Eye $20 Billion Valuation Amid Regulatory Developments

Polymarket and Kalshi are reportedly in preliminary discussions for fundraising that could value each company at approximately $20 billion. According to NS3.AI, this development comes as Washington progresses towards establishing new regulations for prediction markets. The urgency for these rules has increased following significant activity in Iran-related contracts, which attracted around $529 million, and approximately $150 million in contracts related to Khamenei outcomes. Lawmakers are currently drafting legislation, and the Commodity Futures Trading Commission (CFTC) has submitted an advance notice of proposed rulemaking to the White House budget office.