Kalshi Secures $1B, Valuation Doubles to $22 Billion
U.S. prediction market leader Kalshi has successfully closed a massive $1 billion funding round, effectively doubling its valuation to $22 billion. According to Decrypt, the fresh capital injection comes from major Wall Street and Silicon Valley firms, signaling robust institutional interest in regulated event trading despite mounting legal scrutiny in the sector.
Novig Seeks to Regulate Sports Betting Under DCM Framework
As Kalshi expands its financial footprint, aspiring prediction market provider Novig is pushing to redefine how sports wagers are classified. Novig CEO Jacob Fortinsky announced that his company will transition to a federal Designated Contract Market (DCM) framework this summer, which would allow the platform to launch in all 50 states. As reported by CoinDesk, Fortinsky argues that sports betting should be regulated as a financial product rather than traditional gambling. Highlighting the flaws in the current sportsbook model, 57 Maiden's Adam Mastrelli noted he was banned from two major sportsbooks within just two months simply for being a "sharp" bettor.
Dutch Traders Bypass Polymarket Ban
Meanwhile, European regulatory hurdles are proving porous. Following the Netherlands' decision to ban Polymarket in February, Dutch users are still actively participating in event contracts. Cointelegraph reports that platforms like Kalshi, Hyperliquid, and Interactive Brokers continue to offer prediction markets to users in the region. Traders looking to navigate these geographical restrictions and compare active platforms can utilize predictionmarketstools.com to track market availability and data.
Myriad Users Bet on Strategy Selling Bitcoin
In the crypto-specific prediction space, institutional moves are dominating market sentiment. Users on the Myriad prediction market are increasingly convinced that Strategy (MicroStrategy) will part ways with some of its Bitcoin holdings this year. According to Decrypt, recent comments from Michael Saylor have fueled these contract trades, aligning with a broader trend of institutional capital returning to the crypto sector amid surging Bitcoin ETFs and the acceleration of tokenized finance adoption.