Polymarket Targets $15 Billion Valuation as Prediction Market Frenzy Sweeps Wall Street
Wall Street's latest obsession isn't stocks or bonds—it's prediction markets, and Polymarket's riding the wave straight to a massive $15 billion valuation.
The Prediction Market Gold Rush
Traditional finance giants are finally waking up to what crypto natives knew years ago—information markets might just be the future of trading. While hedge funds debate their quarterly projections, Polymarket's users are putting real money on real-world outcomes with terrifying accuracy.
Wall Street's FOMO Moment
Investment firms that once dismissed crypto as casino gambling are now scrambling for position. The irony's thicker than a brokerage statement—the same institutions that called prediction markets 'niche' now can't get enough of that sweet, sweet foresight revenue.
Because nothing says financial innovation like bankers chasing the next shiny object that might actually work better than their overpaid research departments.
Kalshi valuation race heats up
Meanwhile, Kalshi, which competes directly with Polymarket, is getting offers from investors who want in at valuations above $10 billion. According to Bloomberg, that WOULD be more than twice what the company was worth in a funding deal announced just weeks ago. The rapid rise in these valuations shows how much excitement there is around this young industry where betting and finance are coming together.
Both Polymarket and Kalshi have seen betting activity jump recently as reported by Cryptopolitan. During the week that ended October 19, total trading hit more than $2 billion across both platforms. That beat the earlier record set during last year’s presidential election.
Wall Street giants rush to partner with prediction markets
Big financial firms and gambling companies are paying attention. They’re making deals with these prediction market leaders, betting the newcomers might reshape their businesses.
On Wednesday, Coplan said Polymarket would serve as a clearinghouse for DraftKings Inc. as that company enters prediction markets. The same day, the National Hockey League announced multi-year agreements with both Kalshi and Polymarket, making it the first big American sports league to partner with these platforms.
Still, prediction markets face unclear rules ahead. While federal regulators have let Kalshi open new markets, state gambling officials have fought back in court. Questions about market manipulation and insider trading also remain unresolved.
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