Been a while since things have been a-bit calm in prediction market space, no one to blame it’s just that time of the year. But hey, things have started to pickup! Expect coming days to be more exciting with PRED leading the way to become the primary hub for trading sports!
Lets see what brewing in PM space for this week 👇
The industry's biggest fundraising story of the week. Polymarket is in early talks to raise about $1 billion at a valuation above $20 billion, according to Bloomberg. If completed, the round would more than double the $9 billion valuation Polymarket carried in October 2025.
The context: the company closed a round at a $15 billion valuation in April, which brought in hedge fund D.E. Shaw & Co. and venture capital firm G Squared as new investors, alongside a $600 million investment from Intercontinental Exchange Inc.
Polymarket's annualized revenue has risen to more than $1 billion following the launch of its regulated US exchange in May.
The competitive framing: Kalshi has already announced a round valuing it at $22 billion Polymarket closing at $20B+ would position the two platforms as the world's most valuable prediction market companies simultaneously, in a true duopoly at the top.
One of the most strategically significant restructuring stories in the industry this year. CME Group and FanDuel are scaling back their joint effort after failing to gain traction, with FanDuel saying it will no longer use CME's venue for sports-related event contracts, routing them instead to Crypto.com's Nadex exchange.
The split details: CME will only process non-sports bets on FanDuel Predicts going forward which represent less than 1% of the app's activity. CME has a 51% equity stake in the joint venture.
The CEO's public position: on CME's earnings call, CEO Terry Duffy criticised prediction market wagers tied to sports events, saying it is problematic for companies to use affiliated market makers on exchanges in which they have a financial interest remarks that came less than 24 hours after the split was announced.
Bottom line: CME, the world's largest derivatives exchange, is effectively exiting sports prediction markets. The startups win this round completely.