Kalshi fielding investment offers at up to $12 billion valuation shortly after major funding round: Bloomberg
Quick Take U.S.-regulated prediction market platform Kalshi is receiving investment proposals from VCs that would value the company at up to $12 billion, Bloomberg reported. Less than two weeks ago, the startup raised more than $300 million at a $5 billion valuation.
U.S.-regulated prediction market platform Kalshi is receiving investment proposals from venture capital investors that would value the company at up to $12 billion, Bloomberg reported on Wednesday, citing anonymous sources.
Less than two weeks ago, the startup raised more than $300 million at a $5 billion valuation.
"Investors have been eager to back the fast-growing startup, and have discussed funding the company at valuations ranging from $10 billion to $12 billion or higher," Bloomberg said , according to sources.
Rival platform Polymarket recently said Intercontinental Exchange would invest up to $2 billion in its platform at a $9 billion post-money valuation. This followed Polymarket CEO Shayne Coplan recently saying his platform "has been given the green light to go live in" the U.S. after having halted operations there in 2022.
Sports betting
Wagering on sports, a multibillion-dollar industry already, could become a growth area for both Kalshi and Polymarket. In August, Robinhood said it was launching a pro and college football prediction market where users can wager on the outcome of games through a Kalshi partnership.
On Wednesday, Polymarket said it will serve as the designated clearinghouse for DraftKings if the sports betting giant launches a predictions market following its acquisition of Railbird.
The National Hockey League has reportedly reached multi-year licensing agreements with both Kalshi and Polymarket, according to The Wall Street Journal.
Kalshi's Head of Crypto, John Wang, recently told The Block the company's prediction market should be available on "every large crypto application and exchange" within the next 12 months .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Trump’s Innovation Strategy Fueled by Unified Crypto Oversight and Advancements in AI
- Trump nominated SEC crypto task force chief Michael Selig to lead CFTC, aiming to unify cryptocurrency regulation and clarify agency authority over digital assets. - Port3 Network expanded Web3 AI infrastructure through five strategic partnerships, enhancing agent development and security while participating in industry growth discussions. - Defense AI firm BigBear.ai saw 300% stock growth from military contracts and airport tech, despite $228.6M losses, with $390M cash reserves supporting future expansi
Mystery Wallet Aligns $5M Fartcoin Wager With Expectations of Fed Rate Reduction
- A 0x71a0 wallet holds $5M in Fartcoin (FARTCOIN) with strategic $0.6–$1 take-profit orders, reflecting speculative positioning ahead of the Fed's rate decision. - Fartcoin surged 20% from October lows, showing bullish divergence and potential retest of $0.40 support, a key level for trend validation. - The Fed's expected 25-basis-point cut and end of quantitative tightening could boost risk assets, with Bitcoin's open interest spiking to $37.63B. - Institutional-like positioning contrasts with retail cau
Trump, Musk Temporarily Set Aside Dispute to Prioritize Key Objectives
- Trump downplays feud with Musk, calling it a "stupid moment" and reaffirming personal affection for the CEO. - Tensions eased after June 2025 disputes over "Big Beautiful Bill" and Musk's DOGE exit, with Musk reducing public critiques post-September memorial event. - Musk faces Tesla shareholder scrutiny over $1 trillion compensation package, while Trump's endorsement could bolster his position amid operational challenges. - Both prioritize stability over confrontation, with Trump's Asia tour and potenti
Bitcoin News Update: The Contrasting Sides of Crypto—MegaETH Soars by $530M Despite Regulatory Challenges and Market Volatility
- MegaETH's $530M public sale, with 18,590 addresses, marks crypto's largest decentralized fundraising to date, showcasing blockchain's growing institutional and retail appeal. - Institutional adoption accelerates as Bitcoin startups secure $10M+ funding, while SPACs like Miluna bridge traditional markets and crypto-native ventures through $60M IPOs. - XRP's 40% plunge and SEC delays highlight crypto's volatility, while China's stablecoin crackdown contrasts Hong Kong's cautious openness to innovation. - D
Trending news
MoreCrypto prices
More
