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Kalshi closes $185M round as rival Polymarket reportedly seeks $200M
Investors are pouring big bucks into these two rival prediction markets.
“Prediction markets remind me of crypto 15 years ago: a new asset class on a path to trillions,” Matt Huang, co-founder and managing partner at Paradigm, told TechCrunch in an emailed statement. This news comes one day after Bloomberg reported that Kalshi’s biggest but regulatory-troubled rival Polymarket is raising $200 million at around a $1 billion pre-money valuation, led by Founders Fund. Still, if Founders Fund does write a big check, that could mean Polymarket is making headway in its hope to end the formal ban under a more crypto-friendly Trump administration.
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