Prediction market Kalshi raises $185 million at a valuation of $2 billion
Kalshi, a prediction market where users can bet on real-world events, is completing a $185 million raise, giving it a valuation of $2 billion, Bloomberg reports.
Leading the fundraising event is crypto venture capital firm Paradigm, which has invested in decentralized exchange Uniswap, US crypto exchange Coinbase, and web 3 wallet provider Phantom.
News of Kalshi’s raise comes one day after The Information reported rival Polymarket is finalizing a $200 million raise at a $1 billion valuation, making the two platforms on par in market worth.
Kalshi, founded in 2018, is the only regulated prediction market operating in the US after a federal judge ruled last year in favor of the platform in its battle against the CFTC, though Polymarket is eyeing a return to the US.
In 2024, Kalshi completed a formal equity round of about $50 million, and in 2021, the platform raised $30 million in a Series A funding, which was led by Sequoia Capital with participation from Charles Schwab and Henry Kravis.
Correction (June 25, 5:30 p.m. ET): Updated headline and copy to reflect the fundraise was for $185 million at a $2 billion valuation, not $100 million.
News of Kalshi’s raise comes one day after The Information reported rival Polymarket is finalizing a $200 million raise at a $1 billion valuation, making the two platforms on par in market worth.
Kalshi, founded in 2018, is the only regulated prediction market operating in the US after a federal judge ruled last year in favor of the platform in its battle against the CFTC, though Polymarket is eyeing a return to the US.
In 2024, Kalshi completed a formal equity round of about $50 million, and in 2021, the platform raised $30 million in a Series A funding, which was led by Sequoia Capital with participation from Charles Schwab and Henry Kravis.
Correction (June 25, 5:30 p.m. ET): Updated headline and copy to reflect the fundraise was for $185 million at a $2 billion valuation, not $100 million.
