Following the 2024 U.S. election, prediction markets have emerged as significant players in finance and media. Polymarket and Kalshi have reached valuations of $15 billion and $22 billion, respectively, fueled by a shared mission with the crypto industry to disrupt established incumbents. While Polymarket is built on blockchain rails, Kalshi remains focused on sports betting while exploring products like USDC and Solana. However, regulatory scrutiny and the integration of crypto-based systems continue to complicate the landscape for these upstarts.
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Source · Fortune
