Prediction Market Rivals Unite in New Venture
Tech News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
In a surprising turn of events, rivals Polymarket and Kalshi are joining forces, backing a new venture capital firm called five c Capital. Led by former Kalshi staff, the firm is raising thirty-five million dollars for its debut fund. Big names like Marc Andreessen and Micky Malka are investing, while Kalshis CEO is involved and Polymarkets CEO is reportedly investing too. Kalshi is seeking one billion dollars in fresh capital at a twenty-two billion dollar valuation, while Polymarket is negotiating its own round that could peg it at twenty billion dollars. This cross-investment showcases the booming prediction markets, with these players fueling each others growth amidst the rivalry.
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