Kalshi Valuation Doubles to $22 Billion
U.S. prediction market leader Kalshi has successfully doubled its valuation to $22 billion following a fresh $1 billion funding round. According to Decrypt, the massive capital injection will allow the platform to continue its rapid growth trajectory. The raise, backed by prominent Wall Street and Silicon Valley firms, highlights surging institutional interest in regulated event contracts, even amid mounting legal scrutiny, as reported by Cointelegraph.
Novig Pursues Federal DCM Framework
Meanwhile, the lines between sports betting and traditional financial markets continue to blur. Aspiring prediction market provider Novig is planning to transition to a federal Designated Contract Market (DCM) framework this summer. Novig CEO Jacob Fortinsky told CoinDesk that sports betting should be regulated as a financial product rather than gambling, a move that would allow the company to legally launch in all 50 states. This shift appeals to professional bettors; in the same report, 57 Maiden's Adam Mastrelli noted he was banned from two major sportsbooks in just two months simply for being "sharp." To track how these regulatory shifts impact platform availability, traders can utilize predictionmarketstools.com.
Global Access and Crypto Markets
Despite regulatory hurdles in Europe, prediction markets remain highly accessible to restricted regions. Following a February ban on Polymarket in the Netherlands, Dutch users are still actively trading on platforms like Kalshi, Hyperliquid, and Interactive Brokers, per Cointelegraph. In the crypto-specific prediction sphere, traders on the Myriad platform are currently betting that "Strategy" will sell off portions of its Bitcoin holdings this year following recent comments from Saylor, according to Decrypt.