Prediction platforms Polymarket and Kalshi are in discussions to raise capital, with Polymarket targeting a valuation of up to $10 billion, a substantial leap from its previous $1 billion. Kalshi is also seeking investment, potentially valuing it at $5 billion, up from $2 billion. Both companies are expanding their prediction markets through partnerships with major firms like Robinhood and X. The decentralized betting market has seen a record $216 million raised in 2025, underscoring its growing appeal. Polymarket operates on the Polygon network with USDC settlements, while Kalshi is a CFTC-approved platform in the U.S. The trend is attracting major crypto enterprises, with platforms like Underdog and Crypto.com launching decentralized sports betting markets in the U.S.