The Information: Polymarket and Kalshi are each considering new funding rounds at valuations of $9 billion and $5 billion, respectively

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

The Information reported: "People familiar with the discussions with the company's management revealed that Polymarket is considering an offer with a valuation of up to $9 billion. This is a huge leap for the startup, which raised funds earlier this summer at a valuation of $1 billion." (Business Insider reported that at least one investor's term sheet valued Polymarket at $10 billion.)

Polymarket's competitor Kalshi "is nearing a funding round at a valuation of $5 billion," more than doubling its valuation from a few months ago when it was valued at $2 billion.

Currently, the trading volume gap between the two platforms is narrowing, with Kalshi recording $875 million in August and Polymarket at $1 billion.