Kalshi closes $ 185 million because Rival Polymarket would have asked for $ 200 million

Kalshi has just raised a round of $ 185 million, led by the venture capital company focused on the crypto paradigm, assessing the company at $ 2 billion after-money, paradigm and Kalshi representatives confirmed to Techcrunch.

“The prediction markets remind me of Crypto 15 years ago: a new asset class on the path of thousands of billion,” Techcrunch Matt Huang, co-founder and director of director at Paradigm. “There is no better team than Kalshi to scale the prediction markets and reshape the way people think everything, from elections and economic markets to bad weather and sports.”

THE Wall Street Journal was the first to report on the Tour.

This news comes a day after Bloomberg reported The largest but regulatory of Kalshi, the rival, the polymarket rival increases $ 200 million to approximately a pre-money assessment of $ 1 billion, led by the founders. This agreement is not yet final, sources said. The Founders’ Fund refused to comment.

The prediction markets use blockchain technology to allow users to place bets on the outcome of everything, from pop culture events to political events.

By doing the calculation, investors who support Kalshi pay more than one bonus than those who support the polymarket, if the latter treats closely as indicated.

There is a good reason for that. Polymarket has been prohibited in the United States since 2022 as part of an agreement with American regulators of the Futures Trading Commission.

According to Polymarket conditions of useA number of other countries and provinces have also banned or restricted polymarket. These include the United Kingdom, France, Ontario, Singapore, Poland, Thailand, Belgium and Taiwan. The regulators argue that these are either Paris markets and should be authorized as game facilities where they are securities markets and should be regulated as such.

Kalshi, on the other hand, worked through a similar battle With the Commodity Futures Trading Commission and concluded an agreement to be regulated by the CFTC. American residents can freely use the site.

Although a provocative and unregulated market may appeal to those who have repercussions against such things, investors of limited partners in venture capital funds also tend to prefer less risks.

However, if Founders Fund writes a large check, it could mean that Polymarket makes progress in his hope of putting an end to the official ban under a plus Crypto user -friendly Trump administration. Elon Musk’s X apparently doesn’t expect that. The two companies announced a partnership agreement earlier This month to do polymarket The “official” prediction market of X, although the details of what this implies exactly are rare.