Polymarket raises $2 billion; Kalshi $1.3 billion, 2025 funding $55.94 billion

Polymarket raised $2 billion in October 2025, while Kalshi closed $300 million in October and another $1 billion in December. PitchBook measured $55.94 billion in fintech funding for 2025, even as deal count fell 19% to 3,712. Bloomberg also reported Polymarket is pursuing an additional raise at a $12–$15 billion valuation.