Kalshi, Polymarket seeking $20 billion valuations in fundraising talks: WSJ
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🤖 AI Summary
📌 Background: Prediction market platforms Kalshi and Polymarket are in discussions for funding rounds, with valuations reportedly around $20 billion each.
Kalshi anticipates its valuation to double by the end of 2025.
Polymarket, founded in 2020, previously secured a $2 billion investment from Intercontinental Exchange.
Both platforms have recorded open interest exceeding $400 million.
📊 Market Reaction: Prediction markets have emerged as a significant area of interest for traders recently.
💬 Commentary: The growth of prediction markets is attracting major financial institutions, signaling an expansion of market size.