Kalshi has raised a staggering $1 billion in new capital, lifting the CFTC-regulated prediction market platform to an $11 billion valuation, according to TechCrunch. The investment was led by Sequoia Capital and CapitalG, with ongoing backing from Andreessen Horowitz, Paradigm, Anthos Capital and Neo—signaling deepening conviction in the growth trajectory of event-based trading.
The new valuation positions Kalshi just behind rival Polymarket, which is reportedly targeting a $12–$15 billion range in its own next raise. The funding also follows Kalshi’s recent $300 million round at a $5 billion valuation, highlighting the company’s rapid acceleration and surging investor demand in the prediction market landscape.
Kalshi operates as a fully regulated exchange, offering event contracts tied to economic indicators, political developments and other quantifiable outcomes. Its regulatory-first approach, paired with fiat rails, has made it attractive to traders and institutions seeking clarity, compliance and traditional market infrastructure.
Polymarket, by contrast, is rooted in decentralized blockchain architecture. Its on-chain, permissionless design has fueled strong adoption among crypto traders who favor transparency and a broad selection of markets ranging from elections to cultural events.
Together, the two platforms are shaping the future of prediction markets: Kalshi leveraging regulation to push toward mainstream finance, and Polymarket expanding the decentralized frontier for event-driven speculation.
