Blockchain prediction market Polymarket is aiming for a $10 billion valuation in its return to the U.S. after successfully predicting Trump’s 2024 victory. Despite past regulatory hurdles, the platform looks to compete with Kalshi in the prediction market space. Polymarket is in talks to raise capital to boost its valuation.

Kalshi, a rival prediction market platform, is also making waves with a potential $5 billion funding round. The company gained momentum after a court decision allowed it to offer political-event contracts. Despite regulatory challenges, Kalshi remains engaged in the market with a recent lawsuit against state gaming regulators.

Both Polymarket and Kalshi have seen declining user activity since the 2024 election but are experiencing renewed interest during the NFL season. Kalshi has processed $441 million in trading volume since Week 1. The platforms continue to navigate regulatory challenges and defend the legitimacy of prediction markets as innovative tools of the 21st century.

Read more at Yahoo Finance: Polymarket Targets $10B Valuation Amid Plans for US Relaunch