Kalshis valuation marked up to $11B after $1B funding round: TechCrunch

Kalshi has joined predictions market rival Polymarket in the $10 billion-plus valuation club after reportedly raising another $1 billion from Sequoia Capital and CapitalG.

Predictions market platform Kalshi has reportedly raised an additional $1 billion from at least two venture capital firms, increasing its valuation to $11 billion.

Kalshis latest funding round was led by Sequoia Capital and CapitalG, according to a report on Thursday from TechCrunch that cited a person familiar with the matter.

Andreessen Horowitz (a16z), Paradigm, Anthos Capital and Neo were among the other Kalshi investors that sat out on the latest $1 billion funding round.

It comes about a month after Kalshi raised $300 million in October as it expanded to 140 countries. Sequoia took part in that deal, as did a16z and Paradigm.

It puts Kalshis valuation on similar ground to rival prediction platform Polymarket, which is reportedly seeking to raise another funding round at a valuation between $12 billion and $15 billion.

Prediction markets enable users to buy and sell “yes” or “no” shares as a means of betting on real-world events, ranging from elections and sports to a companys earnings results or the outcome of cultural events.

Kalshi and Polymarket continue to lead the pack

Kalshi and Polymarket are the two biggest prediction market platforms, having combined for over $17.4 billion in trading volume since September, DefiLlama data shows.

Kalshis monthly change in trading volume since July 2021. Source: DeFiLlama

Kalshi has the edge, with 61.4% of that trading volume over that time frame.

Polymarket had been barred from serving US residents since 2022 due to regulatory issues, but returned earlier this month in a “Beta Mode.” It seeks to make a full return later this month.

Kalshi, Polymarket have seen major integrations of late

Polymarket has also secured a significant number of integrations — or planned integrations — in recent months, including MetaMask, Google Finance and Yahoo Finance.

Google Finance also integrated Kalshi, as have Robinhood, Elon Musks xAI and Grok and the Pyth Network in recent months.