Polymarket becomes a clearinghouse for DraftKings after acquiring Railbird.

After DraftKings acquired the CFTC-regulated prediction market platform Railbird, Polymarket will be the official clearinghouse for DraftKings' upcoming prediction market. Shayne Coplan, the founder of Polymarket, stated that this move expands the B2B operations of the platform. Since September, Kalshi has surpassed Polymarket in sports betting volume, and both have recently signed multi-year licensing agreements with the NHL.

Clearinghouse ( is an intermediary organization responsible for confirming, settling, and mitigating risks between the parties involved in the transaction.

Specifically:

• When both parties execute the transaction ), for example: buying/selling stocks, futures contracts, or the prediction market (, the clearinghouse ensures that both the buyer and the seller fulfill their obligations correctly.
• It reduces counterparty risk: if one party fails to execute the transaction, the clearinghouse will ensure that the other party still receives payment.
• In addition, the clearinghouse also calculates and settles profits/losses, manages margins, and helps the market operate smoothly and transparently.

In addition, Kalshi is receiving investment proposals from venture capital funds, valuing the company at over 10 billion USD, just a few weeks after completing a funding round of 300 million USD with a valuation of 5 billion USD. Previously, in June, Kalshi raised 185 million USD with a valuation of 2 billion USD.