Prediction market platform Kalshi is drawing fresh VC offers valuing it up to $12 billion, as rival Polymarket’s surge and regulatory wins ignite investor competition.
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Posted October 23, 2025 at 9:50 am EST.
Prediction market startup Kalshi is currently fielding investment offers from venture capital investors valuing the company between $10 billion and $12 billion, according to a Wednesday report from Bloomberg.
The report comes just weeks after Kalshi announced a $300 million funding round that valued the company at $5 billion.
Kalshi operates under a regulatory license and has been buoyed by a court win allowing it to list presidential-election contracts, contributing to trading volume growth and investor enthusiasm.
Kalshi co-founder and CEO Tarek Mansour claims the platform has hit $50 billion in annualized volume and is “the largest prediction market in the world.”
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Meanwhile, rival prediction market platform Polymarket has reportedly begun early talks to raise funds at a valuation of up to $15 billion after its trading volumes hit record highs, surpassing $2 billion in a single week, fueled by growing investor interest and new deals with major sports and betting companies.
Data from The Block estimates that Polymarket actually commands a larger share of monthly volume, doing twice as much as Kalshi in September.
Polymarket recently received a $2 billion investment from NYSE-owner Intercontinental Exchange, valuing the company at $9 billion.
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