Kalshi Raises $1B At $11B Valuation As Prediction Market Race Heats Up

U.S.-based prediction market Kalshi has completed a massive $1 billion funding round, lifting its valuation to roughly $11 billion. Paradigm led the round, with backing from Sequoia Capital, CapitalG and other major venture investors.

The latest raise was first reported last month, confirming Kalshi’s rapid rise as the largest regulated prediction market in the United States.

Kalshi allows users to trade binary event contracts tied to real-world outcomes, including elections, legislative actions, economic releases and other public events. The platform overtook rival Polymarket in Q3, generating $4.47 billion in trading volume compared to Polymarket’s $3.5 billion, according to TokenTerminal.

CEO Tarek Mansour said Kalshi is transforming how people consume information, replacing subjective debate with market-driven accuracy.

Founded in 2018, the company raised $300 million at a $5 billion valuation in October as part of its global expansion strategy. Meanwhile, Polymarket is also seeking fresh capital at an expected valuation between $12 billion and $15 billion.

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