The article discusses the rise of prediction markets like Kalshi and Polymarket, highlighting their appeal to both traditional finance and tech sectors. It contrasts the formal Wall Street image with the casual style of younger entrepreneurs in the space. The piece touches on a notable meeting between industry leaders, symbolizing this convergence.

The article discusses the decline of airdrops in the crypto space and highlights Kalshi and Polymarket as promising platforms for generating income through prediction markets. It emphasizes focusing on high-probability outcomes and suggests using bots for potential profit.

Polymarket, a crypto-based prediction markets platform, has received approval from the CFTC to operate in the United States. The ruling follows a no-action letter regarding swap data reporting and recordkeeping regulations, paving the way for Polymarket's entry after a prior federal investigation was dropped.

Polymarket is set to raise $200 million in a new funding round that will value the platform at $1 billion, led by Peter Thiel’s Founders Fund. Despite facing regulatory challenges that resulted in banning US customers, Polymarket has maintained significant activity, particularly during the 2024 US presidential election, and is expanding its offerings through a partnership with Elon Musk's social network, X. The platform's cumulative betting volume is approaching $14.8 billion, with a notable decrease in user activity recently.