Key Takeaways
- Kalshi, a CFTC-regulated prediction market platform, raised $1 billion in its latest funding round.
- The round was led by Paradigm, an existing backer.
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Kalshi, a CFTC-regulated prediction market platform, raised $1 billion in its latest funding round, pushing its valuation from $5 billion to $11 billion, the New York Times reported today.
Led by Paradigm, the round included participation from prominent venture capital firms Sequoia Capital and CapitalG, Alphabet’s growth equity investment fund. The investment aims to fuel Kalshi’s expansion and strengthen its position against competitors in the prediction market sector.
Kalshi operates as a regulated platform that allows users to bet on event outcomes. The platform competes directly with Polymarket, a crypto-native prediction market that enables betting using digital assets.
The prediction market space has gained mainstream attention following recent elections, driving increased interest in event-based betting platforms. Venture firms including Neo, Anthos Capital, Andreessen Horowitz, and Paradigm have backed Kalshi’s development efforts.