Enlivex announced an acquisition of Rain for $212 million, betting on the prediction market.

According to ChainCatcher news and reported by DLnews, NASDAQ-listed company Enlivex announced it will spend $212 million to acquire the native Token of Rain Protocol. Rain is a prediction market protocol launched on the Arbitrum blockchain 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 have recently completed $1 billion in financing, with valuations reaching $11 billion and $8 billion, respectively. This year, the trading volume in the prediction market 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 illegal 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.