Kalshi, which raised $1 billion in Might at a $22 billion valuation, is now the primary prediction market platform by income, adopted by Polymarket, which was final reported to be looking for funding at $20 billion, following a $600 million funding from the Intercontinental Trade, the proprietor of the New York Inventory Trade, at a $15 billion valuation in August.
Kalshi’s annualized income elevated to $4 billion in July, bolstered largely by 2026 World Cup betting. Polymarket’s income was solely $1.1 billion for that very same interval. Sequoia Capital lately stated Kalshi “now claims 95% U.S. market share in prediction markets.”
Most of Kalshi’s income comes from sports activities contracts, which contribute to over 80% of its quantity. Kalshi introduced Wednesday that Jeff Bandman, the lawyer who helped Kalshi safe a license to be a CFTC-regulated trade in 2020, is returning to Kalshi as CEO of Kalshi Prime, which serves clients of Kalshi’s margin perpetual futures enterprise.
Neither Sequoia, Wellington nor Kalshi instantly responded to a CoinDesk request for affirmation.