Polymarket and Kalshi are considering new funding rounds at valuations of $9 billion and $5 billion, respectively.

BlockBeats News, September 13, according to The Information citing anonymous sources, prediction market platforms Polymarket and Kalshi are each considering new rounds of financing at valuations of $9 billion and $5 billion, respectively.

The Information reported: "People familiar with discussions with company management revealed that Polymarket is considering an offer with a valuation as high as $9 billion. This represents a huge leap for the startup, which just completed a funding round this summer at a $1 billion valuation." (Business Insider reported that at least one investor's term sheet valued Polymarket at $10 billion.)

Polymarket's competitor Kalshi "is close to completing a funding round at a $5 billion valuation," more than doubling its $2 billion valuation from several months ago.

The trading volume gap between the two platforms is narrowing, with Kalshi recording $875 million in trading volume in August, while Polymarket reached $1 billion.