Top prediction market leaders invest in a new $35M fund despite fierce competition between their companies.
New York: Rivals Kalshi and Polymarket lead prediction markets but now back the same VC fund.
The new fund 5(c) Capital raises $35 million to invest in prediction market companies.
Kalshi CEO Tarek Mansour and Polymarket CEO Shayne Coplan both invest despite competition.
Marc Andreessen and Ribbit Capital founder Micky Malka join as investors also.
Adhi Rajaprabhakaran and Noah Zingler-Sternig lead the new fund from Kalshi employees.
The fund focuses on prediction market companies that build important systems.
Kalshi now seeks $1 billion at $22 billion value, double its previous worth.
Polymarket talks with investors for a new round worth $20 billion.