Kalshi Raises $1B, Hits $11B Valuation—Rivalry With Polymarket Heats Up

Kalshi raised $1 billion, reaching an $11 billion valuation and intensifying its rivalry with Polymarket. The platform leads in monthly volume and attracts strong investor interest in prediction markets.

Kalshi, a prediction market platform, has raised $1 billion in a new funding round, boosting its valuation to $11 billion. The round was led by Sequoia Capital and CapitalG, with participation from Andreessen Horowitz, Paradigm, Anthos Capital, and Neo. This latest raise comes just weeks after a previous $300 million round at a $5 billion valuation, reflecting strong investor interest. Kalshi’s rapid growth intensifies its rivalry with Polymarket, which is targeting a $12–$15 billion valuation. Kalshi has outpaced Polymarket in monthly volume since September, recording $4.4 billion in October compared to Polymarket’s $3.02 billion. The platform, regulated in the U.S., offers event contracts on topics like inflation and politics, appealing to both institutional and retail traders. Kalshi’s expansion comes amid growing mainstream traction for prediction markets, with Google Finance integrating both Kalshi and Polymarket into its search results. The funding highlights the convergence of traditional and crypto investors backing disruptive financial technologies.