Kalshi's valuation has doubled within weeks, forming a dual oligopoly in the prediction market.

Golden Finance reports that the prediction market has quickly become a new hotspot in the fields of encryption and financial technology. Kalshi has secured over $1.3 billion in new capital this quarter, with its valuation skyrocketing from $5 billion to $11 billion within weeks. Its competitor Polymarket is also in talks for new financing, targeting a valuation of $12 billion to $15 billion. Market capital is highly concentrated on the two platforms Kalshi and Polymarket, with investors betting that the two will form a duopoly in the prediction market, becoming the core venues for event risk and sentiment data trading. Both platforms are benefiting from a clearer regulatory path in the United States: Kalshi is a CFTC-licensed exchange, and Polymarket has just received CFTC approval to re-enter the U.S. market.