Kalshi hits $5B valuation days after rival Polymarket gets $2B NYSE backing at $8 Billion | TechCrunch

Oct 10, 2025 10:53 PM EDTNovember 3, 2025by Nathan Cole • 3 min read • Updated: November 3, 2025

TITLE: Prediction Market Rivals Kalshi, Polymarket Secure Billions in Backing

Kalshi Hits $5 Billion Valuation With $300 Million Raise

Prediction market platform Kalshi has secured over $300 million in fresh funding at a $5 billion valuation, marking a 2.5x increase from its $2 billion valuation just three months ago. The massive capital injection comes as the company reports explosive growth, with annualized trading volume projected to reach $50 billion compared to last year’s $300 million, according to The New York Times.

Heavyweight Investors Back Prediction Market Boom

Sequoia Capital and Andreessen Horowitz co-led Kalshi’s latest funding round, with significant participation from Paradigm Ventures, Capital G, and Coinbase Ventures. The company also announced it now serves consumers across 140 countries, significantly expanding its global footprint. The rapid valuation surge reflects growing institutional confidence in prediction markets as legitimate financial instruments, with trading volumes suggesting mainstream adoption is accelerating.

Polymarket’s $8 Billion Valuation With NYSE Backing

Kalshi’s funding announcement follows rival Polymarket’s revelation that it secured up to $2 billion from Intercontinental Exchange (ICE), owner of the New York Stock Exchange, at an $8 billion pre-money valuation. This represents a dramatic increase from Polymarket’s $1 billion valuation in August, as reported by TechCrunch. The competing platforms both gained prominence during the 2020 presidential election cycle, but have since diverged in their regulatory approaches and market strategies.

Regulatory Hurdles and Market Access

Polymarket’s path has been particularly complex due to regulatory challenges. The platform has been barred from serving U.S. residents since 2022 following a settlement with the Commodity Futures Trading Commission (CFTC). However, recent acquisitions of a derivatives exchange and clearing house have positioned the company for a U.S. comeback. Polymarket CEO Shayne Coplan confirmed on X that the company “has been given the green light to go live in the USA by the CFTC”, potentially setting the stage for direct competition with Kalshi in the American market.

The simultaneous massive valuations for both companies signal that major financial institutions are betting heavily on prediction markets becoming a significant asset class. As The Wall Street Journal recently noted, these platforms are increasingly being seen as sophisticated forecasting tools rather than mere gambling operations, attracting both retail and institutional participants seeking to hedge risks or gain exposure to event outcomes.

Coinbase CEO’s Prediction Market Prank Reveals Systemic Vulnerability

Coinbase CEO Brian Armstrong’s lighthearted manipulation of an $84,000 prediction market during an earnings call reveals fundamental vulnerabilities in these emerging financial platforms. The incident highlights how easily insiders can influence outcomes, raising urgent questions about market integr

Michael Dell Reveals 3 Critical Business Mistakes That Doomed His Competitors

Dell Technologies founder Michael Dell identifies three critical mistakes that doomed his competitors in the tech industry. The billionaire entrepreneur shares insights from four decades of leadership and what separates successful companies from failures.

In a revealing interview on the “Founders” podcast, Michael Dell outlined the three critical business mistakes that led to the downfall of his former competitors in the technology industry. The billionaire entrepreneur, who has led his namesake company for nearly four decades with only a brief interruption between 2004 and 2007, shared hard-won wisdom about what separates successful companies from failures in the ultra-competitive tech landscape.

The Perils of Overzealous Expansion

Business Leaders Urge Integration of Environmental Strategy Amid Natural Capital Concerns

Channel Islands business leaders gathered in Jersey to address the urgent need for environmental responsibility in corporate strategy. Finance experts warned that current practices risk “natural capital bankruptcy” without strategic changes. The conference highlighted growing pressure on CEOs to balance financial performance with ecological preservation.

Sustainability Emerges as Core Business Imperative

Finance and retail executives are calling for urgent action to embed environmental responsibility into corporate strategy, according to reports from a business conference in Jersey. Business leaders from across the Channel Islands gathered Wednesday to address what sustainability means for modern enterprises and how to implement it effectively within organizational frameworks.