Prediction markets Polymarket, Kalshi bet big on web3—odds of global expansion just improved

2025/11/21 10:16

2 min read

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Polymarket and Kalshi are doubling down on their future — literally — as both prediction-market platforms push into web3 and global markets in search of new revenue streams.

Both startups are also on the hunt for regulatory approvals, and partnerships with sports organizations.

Summary

Polymarket and Kalshi reportedly kicked off expansion efforts.
The plans were unveiled at a private New York dinner attended by ICE CEO Jeffrey Sprecher.
Both platforms are exploring decentralized technologies and international venue partnerships as trading volumes rise.

Bloomberg reports the expansion was kicked off in classic Wall Street fashion: with a private dinner high above New York’s financial district, where even Intercontinental Exchange CEO Jeffrey Sprecher showed up.

Why it matters

Both companies have been ramping up their growth strategies, each aiming to break out of their current lanes.

Polymarket, which is about to relaunch in the U.S., and Kalshi, which just partnered with Coinbase, are now circling opportunities in web3 technologies — essentially taking prediction markets from the basement of the internet to the broader blockchain universe.

As trading volumes rise, regulators and institutional players have been paying much closer attention to the sector — and so is big tech.

Alphabet, for example, will soon display live probabilities from Kalshi and Polymarket on Google Finance and Google Search. This will allow users to type natural-language questions such as “Will the Fed cut rates in December?” and instantly see odds and how they’ve shifted over time.

Kalshi supplies regulated U.S. event markets tied to economic data and policy decisions, while Polymarket covers a wider global range of topics, including politics, sports, and crypto.

Both platforms have seen rising activity as more traders rely on prediction markets to assess future outcomes rather than traditional polls or analyst forecasts.

Still, details on specific deals or regulatory filings remain under wraps. Representatives for both firms were unavailable for comment, possibly because they’re too busy predicting which regulator will call next.

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