TechCrunch reported on Thursday that Kalshi, a decentralised prediction market platform, has secured $1 billion in its most recent fundraising round, valuing the business at $11 billion.

Sequoia and CapitalG, two of Kalshi’s current investors, led the company’s most recent funding round.  According to the article, investors that took part in the round included Andreessen Horowitz, Paradigm, Anthos Capital, and Neo.

Rising valuation

The business reported a $300 million financing last month, valued at $5 billion, only weeks before the $1 billion investment.

Data shows that since September, U.S.-regulated Kalshi has surpassed competitor Polymarket in monthly volume. Kalshi’s October volume was $4.4 billion, whereas Polymarket’s was $3.02 billion.

According to a report published by us, Polymarket was allegedly in discussions with investors last month to raise a second round at a valuation of between $12 billion and $15 billion. Last month, Intercontinental Exchange, the parent company of the NYSE, decided to spend up to $2 billion in Polymarket.

In 2025, prediction markets have become increasingly popular. Earlier this month, Google Finance announced that it will incorporate Kalshi and Polymarket directly into its search results.

Also Read: Polymarket Acquires QCEX For $112M, Clears Path For U.S. Expansion

Prediction markets are evolving into more comprehensive information centres, including sports, politics, business, economics, and culture, according to Bernstein analysts earlier this month.

More on Kalsi

Kalshi bought advertising space on New York subway carriages for the Mamdani vs. Cuomo contest, showing live screens that showed the most recent odds of each candidate winning. This marketing approach surely increased the company’s brand awareness among New Yorkers.

Kalshi enables users in more than 140 countries to wager on a variety of future events, including the winner of the next U.S. presidential election, the Rotten Tomatoes score for the movie Wicked, and Time magazine’s Person of the Year for 2025.

MetaMask declared last month that it would introduce a new rewards program along with perpetual futures trading within the wallet. Additionally, a planned interface with Polymarket to incorporate prediction markets into the app is part of the upgrade.

Because prediction markets operate in the grey area between financial instruments and traditional gambling, they have historically been contentious and vulnerable to legal challenges.

Although Kalshi successfully sued the Commodities Futures Trading Commission (CFTC) last year to win the ability for Americans to use its platform, the firm is presently involved in legal conflicts with many state authorities who contend that its operations constitute unlawful gambling.

Also Read: Polymarket Plans to Launch a Stablecoin to Generate Yield on USDC Holdings