Polymarket Expands Into Private Company Prediction Markets

Prediction market platform Polymarket has launched a new category of markets that it says will allow users to trade on the performance and future milestones of private companies. 

In its first move into the non-public equity space, the company is set to partner with Nasdaq Private Market, which will provide the necessary data. The markets will allow users to buy and sell contracts tied to events such as valuation targets, initial public offering timelines, and secondary market activity involving private firms. 

Some markets are already available, with additional contracts expected to be introduced over time.

Polymarket already hosts markets for politics, sports, and cultural events, but rival prediction market app Kalshi also offers contracts linked to corporate developments, including predictions about when companies such as SpaceX and OpenAI may pursue public listings.

Polymarket said the new markets are intended to provide broader access to information and activity that have traditionally been concentrated among institutional investors and wealthy individuals involved in private equity and secondary markets.

Chief executive Shayne Coplan said the launch would allow users to engage directly with outcomes tied to large private companies, while the Vice President of Data at Nasdaq Private Market, Rodolfo Sanchez, said the trades could also provide an additional indicator of sentiment and activity within private markets.

"Prediction markets are one of the most powerful tools we have for democratizing access to financial information and opportunity," Coplan said. "Today’s launch brings that power to one of the last frontiers of financial markets that retail participants have never been able to access. For the first time, anyone can engage with the outcomes driving value at the world's most consequential private companies."

Kalshi backs problem gambling initiative 

Separately, Kalshi has announced this week a $2 million, two-year commitment to the National Council on Problem Gambling (NCPG) to support a new initiative focused on trader health and safety. The partnership coincides with the creation of a new Financial Services and Trading membership category within NCPG, with Kalshi becoming its first member at the platinum level.

The initiative will focus on education and awareness around potentially harmful trading behavior across retail-focused financial products, including equities, options, cryptocurrencies, commodities, and prediction markets. 

The NCPG said the program will aim to develop research-based tools and resources addressing consumer protection and financial well-being as participation in retail trading markets continues to grow.

Speaking about the partnership, the Executive Director at the NCPG, Heather Maurer, said there was a growing need for collaborations of this type, adding, “Innovation and responsibility can and must evolve together. Kalshi's engagement demonstrates a commitment to mitigating harm before it occurs and ensuring support resources are accessible when they are needed.”