Kalshi has raised $1 billion, increasing the prediction-market platform’s valuation to $11 billion, according to TechCrunch. The funding comes less than two months after the company secured $300 million at a $5 billion valuation.
The round was led by existing investors Sequoia and CapitalG, with participation from Andreessen Horowitz, Paradigm, Anthos Capital, and Neo.
The new valuation puts Kalshi in closer competition with Polymarket, which is reportedly seeking a valuation between $12 billion and $15 billion after its own $1 billion raise.
Kalshi’s growth has accelerated this year. The platform now serves users in more than 140 countries and recently reached $50 billion in annualized trading volume, up sharply from $300 million last year. Activity has been driven by political markets, including the U.S. presidential election and the New York City mayoral race.
The company still faces legal challenges. While a federal court ruling last year allowed Americans to trade on Kalshi, several states argue its markets violate gambling laws. In Massachusetts, the Attorney General is seeking to block Kalshi’s sports markets, a move the company says could force the liquidation of $650 million in open positions.
Kalshi has also expanded partnerships, integrating data into Barchart, launching collectible-price markets with StockX, and shifting USD Coin custody to Coinbase’s institutional system.
The funding signals continued investor confidence as prediction markets move toward wider mainstream use.
