Overview

• Crypto venture firm Paradigm led Kalshi’s latest round, reinforcing confidence in its federally regulated model.
• Peter Thiel’s Founders Fund spearheads Polymarket’s funding as the platform pursues a US market return after its 2022 ban.
• A federal court ruling against the CFTC cemented Kalshi’s unique status as the only US-regulated prediction market.
• Public data show Polymarket hosting nearly $600 million in active trades with about 186,000 traders, compared with Kalshi’s roughly $113 million volume.
• Donald Trump Jr. joined Kalshi as a senior adviser this January and Polymarket recently partnered with Elon Musk’s X to deliver data-driven betting insights.