Kalshi has secured a massive $1 billion funding round, boosting its valuation to $11 billion and cementing its position as one of the leading players in the rapidly expanding prediction market sector, TechCrunch reported. The raise was backed by previous supporters Sequoia Capital and CapitalG, alongside heavyweight investors including Andreessen Horowitz, Paradigm, Anthos Capital and Neo.
The surge in valuation brings Kalshi closer to Polymarket, the crypto-native competitor said to be targeting a $12–$15 billion valuation in its next raise. The announcement also follows Kalshi’s $300 million round just a month earlier, signaling a wave of institutional enthusiasm for event-driven trading platforms.
As a CFTC-regulated exchange, Kalshi specializes in event contracts linked to macroeconomic data, political developments and other measurable outcomes. Its emphasis on regulatory compliance and support for fiat onramps has helped it attract a broad mix of retail and institutional traders seeking a legally established venue.
Polymarket takes a different route, operating as a decentralized prediction market built on blockchain technology. Users stake crypto on yes/no outcomes, with markets often tied to elections, financial indicators or cultural trends. Its transparency and permissionless design make it popular among crypto-native participants.
With both companies scaling rapidly, the prediction market industry is entering a new phase—where Kalshi pushes toward mainstream adoption through regulatory clarity, while Polymarket advances the decentralized model favored across the crypto ecosystem.
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