The Billion Dollar Bet: Kalshi's Rise to Prominence and the Future of Prediction Markets Kalshi has solidified its position as the largest prediction market in the US, with a $22 billion valuation that surpasses its rival Polymarket.
This milestone raises questions about the industry's future trajectory and the implications for users who participate in these platforms.
The Commodity Futures Trading Commission (CFTC) granted Kalshi approval to operate in 2020, allowing it to reach a wider audience and attract more investors. As a result, its valuation doubled in just two months.