"Polymarket and Kalshi exploded on the scene just before the 2024 Presidential election, notching respective valuations of $15 billion and $22 billion, marking prediction markets as a major new player in finance, gaming, and media."
"Polymarket is moving ahead with its own version of Ethereum's blockchain and plans to do an airdrop later this year, rewarding longtime customers with a chunk of crypto cash."
"Kalshi is dabbling in USDC and Solana products, but crypto has mostly remained a sideshow for the company, especially while it is waging a legal fight to preserve sports betting."
Polymarket and Kalshi emerged as significant players in prediction markets, achieving valuations of $15 billion and $22 billion respectively. Both companies share a connection to the crypto industry, with Polymarket built on blockchain technology. While Kalshi is exploring crypto products, it remains focused on sports betting. Polymarket is committed to a crypto-first strategy, planning to launch its own blockchain and an airdrop for users. The evolving relationship between prediction markets and crypto indicates a growing influence in finance and media.
Read at Fortune
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