"5(c) Capital seeks to back founders who want to capitalize on the second-, third-, and fourth-order effects of the rapidly growing prediction markets, they reportedly wrote in the investment memo."
"Kalshi is raising $1 billion at a $22 billion valuation, a two-fold increase from the $11 billion valuation it achieved less than four months ago."
"Polymarket is reportedly in talks with investors for a new round that would value the platform at $20 billion."
Polymarket and Kalshi are engaged in a competitive rivalry in the prediction market industry. Both companies' CEOs are investing in 5(c) Capital, a new VC firm focused on prediction markets. 5(c) Capital aims to raise $35 million for its first fund, targeting infrastructure investments in the prediction market sector. Notable investors include Marc Andreessen and Micky Malka. Kalshi is currently raising $1 billion at a $22 billion valuation, while Polymarket is seeking investment that would value it at $20 billion.
Read at TechCrunch
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