Decentralized prediction market platform Kalshi has raised $1 billion in its latest funding round, giving the company a valuation of $11 billion, TechCrunch reported.
The funding round was led by Sequoia and CapitalG, who are already investors in the company. Other investors, like Andreessen Horowitz, Paradigm, Anthos Capital, and Neo, also joined the round.
This comes just weeks after Kalshi announced a $300 million raise that valued the company at $5 billion. Kalshi has not commented on the new funding.
Kalshi, which is regulated in the U.S., has been handling more monthly trading volume than its rival Polymarket since September. In October, Kalshi’s volume reached $4.4 billion, while Polymarket’s was $3.02 billion.
Meanwhile, Polymarket has been in talks to raise funds at a valuation between $12 billion and $15 billion, Bloomberg reported. The NYSE parent company, Intercontinental Exchange, also agreed to invest up to $2 billion in Polymarket last month.
Prediction markets have been growing fast in 2025. Google Finance recently announced it will show both Kalshi and Polymarket results directly in search. Analysts from Bernstein said prediction markets are now expanding beyond finance and politics to cover sports, business, economics, and culture.
John Wang, Kalshi’s head of crypto, said the company plans to make its prediction market available on all major crypto apps and exchanges within the next year.
