USDPolymarket, Kalshi Expand Into Perpetual Futures and Institutional Data
New products, funding talks, and research deals reshape prediction markets
TL;DR
- Polymarket said perpetual futures are coming, offering at least 10x leverage across multiple asset classes.
- Kalshi is preparing crypto perpetual contracts for U.S. users and expanding into data distribution.
- Polymarket is reportedly raising $400 million at a $15 billion valuation, with strong institutional backing.
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Polymarket and Kalshi are expanding beyond traditional prediction markets into perpetual futures, institutional data products, and research services, marking a shift toward broader financial infrastructure. Polymarket said on April 21, 2026 that perpetual futures are coming to its platform, while Kalshi is preparing crypto perpetual contracts for U.S. customers. At the same time, Polymarket is reportedly in talks to raise $400 million at a $15 billion valuation.
Polymarket disclosed the product expansion with the statement, “We price the future. Now you can lever it. Perps are coming to Polymarket.” The platform indicated users will be able to take leveraged positions with at least 10x leverage across digital assets such as Bitcoin, equities including Nvidia and Coinbase, and real-world assets such as gold and silver.
Kalshi is also moving into perpetual futures, preparing crypto trading products with no expiration date and funding-rate mechanisms designed for continuous trading. Both companies are extending prediction-market infrastructure into adjacent derivatives products while operating under the CFTC’s Designated Contract Market framework, which allows access to futures and options.
Polymarket funding talks and institutional backing
Polymarket is in discussions to raise $400 million at a $15 billion valuation, with the round potentially expanding to $1 billion if additional strategic investors participate alongside Intercontinental Exchange. That valuation would mark an increase from the $9 billion level associated with an October 2025 deal.
Intercontinental Exchange, the parent of the New York Stock Exchange, invested $600 million last month, bringing its total investment in Polymarket to $1.6 billion. The October 2025 agreement granted Intercontinental Exchange exclusive global distribution rights for Polymarket’s event-driven data, included a $2 billion commitment, and allowed it to purchase up to $40 million in securities from existing holders.
Intercontinental Exchange has already begun integrating that data into financial infrastructure, launching Polymarket Signals and Sentiment in February to deliver prediction-market insights to institutional users. Regulators and state authorities remain divided over whether prediction-market platforms should be classified as gambling venues or federally regulated event-contract markets.
Kalshi data enters institutional research workflows
Anthony Pompliano’s ProCap Financial partnered with Kalshi on April 21, 2026 to launch a prediction-markets research offering through ProCap Insights, a research business introduced earlier in April. The product uses AI agents to analyze data and produce reports across equities, macro trends, and prediction markets.
Pompliano said the partnership gives ProCap “a direct data pipeline” and enables its systems to extract “all kinds of interesting data points,” including prediction-market investment ideas, stock-market signals, and combined insights from equities and prediction-market pricing. The arrangement marks the first time Kalshi has supplied its data to a financial research provider with paying subscribers.
Tarek Mansour, co-founder and CEO of Kalshi, said, “Prediction markets turn uncertainty about real-world events into actionable signals.” Mansour added that the collaboration brings “wisdom-of-the-crowds intelligence directly to financial research, so both retail and institutional investors can benefit from this data and analysis.”
Anthony Pompliano’s investor note described prediction markets as tools for isolating single variables such as Federal Reserve rate outcomes, recession probabilities, or company-specific metrics like Tesla car deliveries. The note also said these markets could be used in hedging contexts, including potential applications for farmers, and described cases where Kalshi traders identified mispriced markets and reflected economic data ahead of traditional channels.
FAQ
What did Polymarket announce?
Polymarket said perpetual futures are coming with leveraged trading.
What funding is Polymarket seeking?
Polymarket is reportedly raising $400 million at a $15 billion valuation.
What is Kalshi building?
Kalshi is preparing crypto perpetual futures and expanding data services.
What is ProCap’s new product?
ProCap launched a research platform using Kalshi prediction-market data.
This article has been refined and enhanced by ChatGPT.
