Kalshi, Polymarket raise funds, US courts lower the boom

Homepage > News > Business > Kalshi, Polymarket raise funds, US courts lower the boom Prediction markets Kalshi and Polymarket continue to raise funds at ever-higher valuations, even as United States federal courts keep rejecting their ‘it’s not sports betting’ arguments. Kalshi, Polymarket raising more cash, Don Jr. raising eyebrows with warning to state AGs Ninth Circuit rejects Kalshi’s ‘not sports betting’ argument Kalshi bans fabulist George Santos from platform for life CFTC fines Trump’s teleprompter guy, more military insider charges coming Can Apex help customers remember the lifeless Gemini Titan? Last month, Kalshi reportedly began talks with venture capital group Sequoia Capital and asset managers Wellington Management on yet another funding round, this one looking to raise $750 million at a valuation of $40 billion. It was only three months ago that Kalshi raised $1 billion at a $22 billion valuation—and Kalshi’s valuation was just $2 billion in June 2025—so clearly someone sees a future in them thar prediction markets. Not to be outdone, the Wall Street Journal reported Monday that Kalshi rival Polymarket is negotiating its own funding round, looking to raise...