Kalshi Secures $1 Billion to Dominate Global Prediction Markets

Kalshi, a regulated prediction market platform based in the United States, has successfully raised $1 billion, achieving an impressive valuation of $11 billion, according to a report from TechCrunch. While the company has not yet publicly confirmed this funding round, the financial milestone marks a significant step in its growth.

Key Takeaways

Kalshi has raised $1 billion, achieving an $11 billion valuation.
This funding doubles its previous valuation of $5 billion just months prior.
Over the past six months, Kalshi has raised nearly $1.5 billion in total.
The platform allows users to bet on various future events globally.
Kalshi has seen a huge increase in transaction volume, reaching $50 billion annually.
The prediction market sector is fiercely competitive, with multiple players vying for attention.

Kalshi raises $1B to lead global prediction markets - 1

This latest funding round more than doubles Kalshi's previous valuation of $5 billion from October, when it secured $300 million in a round supported by prominent investors like Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG, and Coinbase Ventures. Sequoia Capital and CapitalG are believed to be leading the current fundraising effort as returning investors.

Earlier in June, Kalshi had raised $185 million at a valuation of $2 billion. With the latest investment, the total funds raised in just six months have approached nearly $1.5 billion.

Understanding Kalshi

Kalshi’s platform allows users from over 140 countries to place bets on a variety of future events. These include sports competitions, political results, film ratings on Rotten Tomatoes, and awards like Time Magazine’s Person of the Year.

In October, the company reported reaching a staggering annualized transaction volume of $50 billion, a dramatic increase from $300 million the previous year—representing a rise of over one hundredfold.

The prediction market space has drawn considerable attention from investors, with Kalshi in direct competition with Polymarket, which was last valued at $8 billion. Additionally, a new competitor, Clearing Co., recently raised a $15 million seed round to join the fray.