WSJ: Polymarket, Kalshi seek funding at $20B valuations

Prediction market platforms Kalshi and Polymarket are in discussions to raise capital at valuations of approximately $20 billion each, the Wall Street Journal reported. Citing people familiar with the matter, the WSJ noted that both companies have held talks with potential investors regarding funding rounds at the $20 billion valuation mark. Kalshi was last valued at $11 billion during a funding round in December, while Polymarket secured a $9 billion valuation in October. If these new rounds are successful, the valuations for both firms would nearly double.