Kalshi has raised $1 billion in fresh capital, lifting its valuation to $11 billion and intensifying the race within the prediction market industry, according to TechCrunch. The round drew support from returning backers Sequoia Capital and CapitalG, along with contributions from major venture firms including Andreessen Horowitz, Paradigm, Anthos Capital and Neo.
The new valuation moves Kalshi closer to rival Polymarket, which is reportedly targeting a valuation between $12 billion and $15 billion. The funding also comes on the heels of Kalshi’s recent $300 million raise at a $5 billion valuation, highlighting the accelerating investor demand for platforms that let users trade on real-world outcomes.
As a CFTC-supervised exchange, Kalshi offers event contracts tied to economic indicators, elections, and other measurable events. Its focus on regulatory approval and seamless fiat access has helped the platform carve out a strong position among U.S.-based retail and institutional participants looking for legal clarity.
Polymarket, meanwhile, operates on decentralized blockchain infrastructure and allows users to place crypto wagers on yes-or-no forecasts across politics, markets and cultural topics. Its open, permissionless framework appeals to crypto-first traders who prioritize transparency and censorship resistance.
Together, Kalshi and Polymarket have emerged as the two dominant forces in a fast-growing corner of the financial world—one betting on regulated, mainstream adoption and the other leaning into decentralized innovation.
