WSJ: Kalshi, Polymarket seeking $20 billion valuations in fundraising talks

Kalshi, approved by the Commodity Futures Trading Commission, was last valued at $11 billion, while Polymarket was valued at $9 billion. What to know : Kalshi and Polymarket are exploring fundraising rounds that could value each company at approximately $20 billion, doubling their valuations from late 2025. Kalshi, approved by the Commodity Futures Trading Commission, was last valued at $11 billion, while Polymarket was valued at $9 billion. Both platforms are leading the prediction markets sector, with Kalshi's open interest at over $400 million and Polymarket's at $360 million, alongside notable weekly volume figures.