Prediction Market Boom: Polymarket and Kalshi Soar Amid Wall Street Frenzy
Polymarket's valuation trajectory mirrors the explosive growth of prediction markets, rocketing from a $1 billion valuation in June to a potential $15 billion following Intercontinental Exchange's planned $2 billion investment. The deal catapults CEO Shayne Coplan into the billionaire founder club—a testament to the sector's white-hot momentum.
Rival platform Kalshi now fields offers above $10 billion, more than doubling its recent funding valuation. Trading volumes tell the story: a record $2 billion weekly turnover across both platforms in mid-October, eclipsing even 2020 election fever.
Wall Street's stampede into this hybrid of finance and speculative markets signals a paradigm shift. Traditional exchanges and hedge funds increasingly view prediction markets as both barometers of sentiment and untapped revenue streams—though regulatory hurdles remain.
