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PitchBook raises valuation estimates to 42.3 billion dollars for Kalshi and 20.6 billion dollars for Polymarket, PitchBook reports

  • PitchBook raises valuation estimates to 42.3 billion dollars for Kalshi and 20.6 billion dollars for Polymarket, PitchBook reports — PitchBook raised its Q4 2026 estimates for both platforms on stronger trading activity and an improving revenue outlook, with Kalshi ahead on scale and earnings capacity. The note says Polymarket's US expansion has narrowed but not closed the gap with Kalshi, and that Polymarket's US platform has overtaken its international business. (PitchBook)

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