Kalshi and Polymarket dey reason for about $20B valuation as prediction markets dey blow up

Prediction markets Kalshi and Polymarket dey for early fundraising talks we fit value each company about $20 billion, near double wetin dem bin value for late‑2025. Kalshi, wey CFTC regulate and dem start for 2018, last value near $11 billion after December raise and dem dey report annualised revenue run‑rate close to $1–1.5 billion. Polymarket, start for 2020 and planning regulated U.S. relaunch later dis year, value near $9 billion after Intercontinental Exchange (ICE) agree to invest up to $2 billion. On‑chain and market dashboards show big scale: Kalshi open interest pass $400 million and Polymarket around $360 million, with weekly notional volumes near $1.87–$1.9 billion. Rapid growth for the sector dey attract new players like Coinbase and Robinhood and dey make traditional exchanges look into binary‑style products. Both firms dey face more regulatory and political scrutiny after reports say some wagers time suspiciously and raise insider‑trading concerns; lawmakers dey consider new rules for prediction markets. Talks still preliminary and fit no result for deals. Key SEO keywords: prediction markets, Kalshi, Polymarket, fundraising, valuation, open interest, trading volume.