Polymarket and Kalshi Dominate 2025 Fintech Funding with $3.3B Combined Raises

Prediction markets Polymarket and Kalshi have emerged as the standout winners in 2025's fintech funding race, collectively securing $3.3 billion. These platforms, which allow users to wager on real-world events, landed the largest U.S. funding rounds and two of the top five globally.

PitchBook data reveals fintechs worldwide raised $55.94 billion this year—a 25% increase from 2024's $44.75 billion. Yet the figure pales against 2021's $123.99 billion frenzy, when near-zero interest rates fueled indiscriminate investment in early-stage ventures.

Polymarket's $2 billion October raise at a $9 billion valuation could soon be eclipsed by a $12-15 billion round, potentially surpassing established players like Plaid and Stripe. Kalshi followed its $300 million October haul with a $1 billion December close, reaching an $11 billion valuation.

"We have not seen these types of very large primary capital raises in some time," noted Oak HC/FT's Matt Streisfeld. The deals' scale marks a dramatic reversal from recent funding droughts, outshining not just crypto peers but the broader fintech landscape.