Prediction market leaders Polymarket and Kalshi are in talks to raise fresh funding at sky-high valuations, according to The Information and Business Insider. > Polymarket has reportedly received offers valuing it between $9-$10B, a massive jump from its $1B round earlier this summer. > Polymarket is preparing a US relaunch after receiving CFTC approval. > Kalshi, meanwhile, is close to raising at a $5B valuation, more than double its $2B mark just months ago. In August, Polymarket processed $1B in volume versus Kalshi’s $875M, reflecting their growing competition. While Polymarket runs on Polygon with USDC and pseudonymous access, Kalshi remains fully CFTC-regulated with dollar deposits and strict KYC. > Both have attracted top-tier backers, with Polymarket backed by Founders Fund and Kalshi by Paradigm and Sequoia. > Coinbase, and Underdog are building prediction products, while X partnered with Polymarket and Robinhood with Kalshi. > 2025 has already set a record for funding...
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