Enlivex announced an investment of $212 million to acquire Rain's native tokens, betting on the prediction market

According to DLnews, Nasdaq-listed company Enlivex announced it will spend $212 million to acquire the native token of Rain Protocol, which is a prediction market protocol launched on the Arbitrum chain in 2023, with a market capitalization of $1.8 billion.

This transaction comes at a time when the prediction market is thriving. Kalshi and Polymarket recently completed $1 billion in financing, with valuations reaching $11 billion and $8 billion, respectively. This year, the trading volume in prediction markets has exceeded $28 billion, and it is expected to reach $95.5 billion within ten years.

However, regulatory pressure is increasing. Regulatory agencies in various U.S. states have accused these platforms of operating without a license for gambling, and Kalshi has received seven injunctions this year. Polymarket, on the other hand, received CFTC approval to return to the U.S. market on November 25.