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Polymarket And Kalshi Rivalry Forging New Paths In Prediction Markets

by THEFUTURE.TEAM

March 24, 2026

High-Stakes Competition In A Booming Market

The prediction market sector is seeing growing competition between Polymarket and Kalshi, two startups that are expanding their positions while also converging around a shared investment initiative. Both companies are linked to 5(c) Capital, a new fund focused on opportunities within the prediction market space. Despite their rivalry, the involvement of both sides in the same fund highlights a broader alignment around the sector’s long-term potential.

Innovative Funding Initiative

5(c) Capital, named after the regulatory clause governing prediction markets, is raising $35 million for its first fund. The initiative is backed by key figures in the sector, including Kalshi CEO Tarek Mansour and Polymarket CEO Shayne Coplan, alongside established investors.

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The fund plans to invest in around 20 companies, with a focus on infrastructure such as market makers and index development. These areas are seen as critical for supporting the growth and functionality of prediction markets.

A Strategic Investment By Industry Leaders

Kalshi has confirmed that its CEO is backing the fund, signalling confidence in the sector’s development. While Polymarket has not publicly detailed its position, its leadership’s involvement points to a similar outlook. The fund is led by Adhi Rajaprabhakaran, a former Kalshi trader, and Noah Zingler-Sternig, previously head of operations at Kalshi, bringing sector-specific experience into the investment strategy.

Expanding Market Valuations

At the same time, valuations across the sector are increasing. Kalshi is in the process of raising $1 billion at a valuation of $22 billion, roughly double its level from four months earlier. Polymarket is also in discussions for a new funding round, with a reported valuation target of around $20 billion. These figures reflect growing investor interest in prediction markets and their potential role within financial technology.

Looking Ahead

The combination of rising valuations, new capital and increased competition suggests continued expansion in the sector. The launch of 5(c) Capital adds further support to infrastructure development, which could play a key role in shaping how prediction markets evolve. At the same time, the involvement of competing players in shared initiatives highlights how the market is still forming, with collaboration and competition developing in parallel.

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Meta’s $18 Billion Settlement Limits State Claims Over Children’s Data

by News Editor

August 28, 2026

Meta’s $18 billion settlement with attorneys general from 29 U.S. states includes a provision limiting future state claims over the company’s use of children’s data for age-assurance systems.

Under the agreement, Meta must develop, train and begin testing a system to identify users under 13 within a year of the settlement taking effect. The company already uses AI-based age-detection tools, although the agreement does not require the new system to use AI.

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States Agree To Limits On Future Claims

The Children’s Online Privacy Protection Act (COPPA) generally restricts the collection and retention of personal data from children under 13. Under the settlement, the 29 state attorneys general agreed not to bring past, present or future claims under COPPA or similar state laws over the specified use of children’s data.

Meta will not be permitted to use information from users under 13 for advertising, marketing or algorithmic optimisation.

Federal Enforcement Remains Unclear

COPPA is primarily enforced by the Federal Trade Commission, which is not a party to the agreement. That leaves open the possibility of separate federal action over how Meta collects or uses children’s data.

Another issue is whether Meta can keep age-assurance data isolated from its other systems. An independent auditor will monitor compliance, but the settlement does not fully specify what data Meta can retain for training, how long it can be stored or whether derived insights can be used elsewhere.

Legal Risks Remain

Joshua Wurtzel, a partner at Schlam Stone & Dolan, said states could still pursue claims if Meta uses the data outside the settlement’s limits. Such cases could depend on how those limits are interpreted.

Peter Jackson, a data and intellectual property attorney at Greenberg Glusker, said the provision could “disincentivize future enforcement actions.”

The agreement gives Meta greater legal certainty around using children’s data for age assurance, but questions remain over federal enforcement, data retention and secondary use.