Kalshi, Polymarket CEOs Back $35M Predictions Markets VC Fund

Despite bitter rivalry, the CEOs of Kalshi and Polymarket, two prediction markets platforms, have come together to back a new $35 million venture capital fund focused on supporting startups in the burgeoning category.

The new firm, called 5(c) Capital, aims to invest in startups that are working on prediction markets and related technologies. The fund has already received backing from several high-profile investors, including the CEOs of Kalshi and Polymarket.

The move is seen as a significant development in the prediction markets space, which has been gaining traction in recent years. Prediction markets allow users to bet on the outcome of future events, and have been used in a variety of applications, from sports betting to politics.

The CEOs of Kalshi and Polymarket have been rivals in the past, but have put aside their differences to back the new fund. The move is seen as a sign of the growing maturity of the prediction markets space, and the increasing recognition of its potential.

The fund will focus on investing in startups that are working on prediction markets and related technologies, and will look to back companies that are working on innovative solutions in the space.

The move is seen as a significant development in the prediction markets space, and is likely to be closely watched by investors and entrepreneurs in the industry.

Sources

[1] Despite bitter rivalry, Kalshi, Polymarket CEOs back $35M predictions markets VC fund