[DigitalToday reporter Chi-gyu Hwang (황치규)] Prediction market platforms Kalshi and Polymarket are each seeking funding at valuations of about $20 billion, the Wall Street Journal reported on March 6, citing sources familiar with the matter.
Talks at both companies are at an early stage, but the valuations are drawing attention because they are nearly double those in funding rounds conducted at the end of last year.
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Kalshi raised $1 billion from Paradigm and Sequoia Capital in December and was valued at about $11 billion. Polymarket was valued at about $9 billion in October, when Intercontinental Exchange, the parent of the New York Stock Exchange, agreed to invest up to $2 billion.
According to the Wall Street Journal, Kalshi recently surpassed $1 billion in annualized revenue. One of the people involved said it is currently around $1.5 billion.
Chi-gyu Hwang
delight@d-today.co.kr