According to CoinMeta, the forecasting platform Kalshi is seeking at least $750 million in financing with a valuation of $40 billion, which is double its valuation of $22 billion from six months ago. Kalshi was approved by the U.S. Commodity Futures Trading Commission as a designated contract market in 2021. As of September 4th, Kalshi had a trading volume of $14.1 billion in the past 30 days, while Polymarket had a trading volume of $3.1 billion. Kalshi accounted for 82% of the total trading volume between the two, and over 80% of that trading volume came from sports events.