Kalshi secures US$1bn funding
Prediction-market operator Kalshi has raised $1bn in fresh capital, lifting its valuation to $11bn as trading volumes surge and competition intensifies across event-based markets.
Kalshi has closed a US$1bn funding round, valuing the prediction-market firm at $11bn as interest in event-based trading continues to grow. The round, the company’s third this year, was led by existing investor Paradigm alongside Sequoia Capital, Andreessen Horowitz, Meritech Capital, IVP, ARK Invest, Anthos Capital, CapitalG and Y Combinator.
The New York-based platform offers yes-or-no contracts on real-world events, from weather and sports outcomes to entertainment and political developments. Its user base expanded significantly around the US presidential election, and Kalshi reports weekly trading volumes now exceeding $1bn.
The company said its latest investment will support consumer growth, brokerage integrations, news partnerships and new product lines.
“Kalshi is replacing debate, subjectivity, and talk with markets, accuracy, and truth,” said Chief Executive Tarek Mansour. “We have created a new way of consuming and engaging with information. It’s hard to have an opinion about the future today without thinking about Kalshi.”
Prediction markets such as Kalshi and rival Polymarket have gained momentum following a federal court ruling that overturned a CFTC prohibition on election betting. Since then, operators have expanded into sports-related contracts, attracting regulatory scrutiny as they move closer to the remit of licensed sportsbooks.
Major companies are entering the space, including DraftKings, FanDuel, CME, Cboe Global Markets and Trump Media & Technology. Polymarket recently secured investment from the owner of the New York Stock Exchange, while both Kalshi and Polymarket have reached licensing agreements with the National Hockey League.
