Polymarket and Kalshi are currently considering new funding rounds at valuations of $9 billion and $5 billion respectively

BlockBeats News, September 13, according to The Information citing anonymous sources, prediction market platforms Polymarket and Kalshi are reportedly considering new funding rounds with valuations of $9 billion and $5 billion respectively.

The Information reported: "People familiar with the discussions with company management revealed that Polymarket is considering an offer with a valuation of up to $9 billion. This would be a huge leap for the startup, which just raised funds this summer at a valuation of $1 billion." (Business Insider reported that at least one investor's term sheet values Polymarket at $10 billion.)

Polymarket's competitor Kalshi "is nearing a funding round with a valuation of $5 billion," more than doubling its valuation from a few months ago at $2 billion.

Currently, the trading volumes of the two platforms are converging, with Kalshi recording $875 million in August and Polymarket at $1 billion.