Kalshi and Polymarket are both seeking funding at valuations of approximately $20 billion.

Prediction market platforms Kalshi and Polymarket are reportedly in talks with potential investors for new funding rounds, each targeting a valuation of approximately $20 billion. Sources familiar with the matter indicate that the two companies were valued at about half that level at the end of last year. As competition intensifies in the prediction market, both companies are accelerating their efforts to grow their user base and use this momentum to advance these new funding negotiations. (Wall Street Journal)