Kalshi Lands $1B Round, Vaults to $11B Valuation as Prediction-Market Race Heats Up

Kalshi, a U.S.-regulated prediction market, announced it closed a massive $1 billion financing round, propelling its valuation to approximately $11 billion. The round was led by Paradigm, with participation from established venture capital firms like Sequoia Capital and Alphabet’s growth-equity arm, CapitalG. This funding boost widens Kalshi's lead over its rival, Polymarket, as Kalshi recorded $4.47 billion in trading volume in Q3 compared to Polymarket's $3.5 billion. Kalshi CEO Tarek Mansour stated the company is replacing debate with markets, accuracy, and truth. Founded in 2018, Kalshi, which allows users to trade on real-world event outcomes, had previously raised $300 million at a $5 billion valuation in October. Meanwhile, rival Polymarket is also reportedly in talks to raise capital at a valuation potentially between $12 billion and $15 billion.

(Source：CoinDesk)