Kalshi Valued Up to $12 Billion Amid Prediction Market Boom

Bloomberg reports that U.S.-regulated prediction market platform Kalshi is considering new investment proposals that could value the company at as much as $12 billion. This potential valuation increase builds on momentum from a recent funding round, where the startup secured over $300 million, establishing a previous valuation of $5 billion. This investor interest reflects a broader trend in the prediction market space. Competitor Polymarket recently announced a potential $2 billion investment from Intercontinental Exchange, valuing that platform at $9 billion post-money. Both Kalshi and Polymarket are strategically expanding into the sports wagering industry. Kalshi has partnered with Robinhood to launch a prediction market focused on football, while Polymarket is poised to become the designated clearinghouse for DraftKings, contingent on the sports betting company launching its own prediction market. Both Kalshi and Polymarket have also secured multi-year licensing agreements with the National Hockey League, as reported by The Wall Street Journal, further demonstrating their commitment to the sports sector.