Kalshi has closed a Series E funding round of $1bn (£757m), valuing the New York-based prediction market at $11bn.
The round was led by Paradigm and featured contributions from Sequoia Capital, Andreessen Horowitz, Meritech Capital and IVP.
ARK Invest, Anthos Capital, CapitalG and Y Combinator also participated in the latest funding round.
The funding comes less than two months after the firm raised $300m and was subsequently valued at $5bn.
At the time of that raise, Kalshi said it was expanding into 140 countries via a single liquidity pool.
That round was led by Sequoia Capital and a16z Capital Management.
Kalshi confirmed it would use the new funds to “further accelerate consumer adoption to the next hundred million customers and integrate more brokerages”.
The firm added it would look to “strike news partnerships and broaden its product offerings” using the capital injection.
Kalshi said it is experiencing trading volumes of $1bn+ every week, up more than 1,000% compared to 2024.
The volume is being helped but the rollout of sports event contracts, which Kalshi began to offer at the start of 2025.
Kalshi has partnered with PrizePicks to launch event contracts on the DFS firm’s platform, while also maintaining Robinhood as a partner.
Polymarket, Kalshi’s primary rival which is due to relaunch in the US soon, received a $2bn backing from New York Stock Exchange owner ICE, valuing it at $9bn in October.
Tarek Mansour, Kalshi CEO, said: “Kalshi is replacing debate, subjectivity and talk with markets, accuracy and truth.
“We have created a new way of consuming and engaging with information. It’s hard to have an opinion about the future today without thinking about Kalshi.”
Matt Huang, Paradigm co-founder and managing partner, added: “Kalshi’s exponential growth shows the scale of latent demand for prediction markets as a new asset class – from institutions to everyday people.
“People come for one type of market and stay for the breadth. We see this as an uncapped cultural and economic phenomenon, similar to how we felt about crypto a decade ago.”
The post Kalshi valued at $11bn after $1bn Series E funding round first appeared on EGR Intel.
Latest capital injection led by Paradigm comes less than two months after prediction market raised $300m at a $5bn valuation
The post Kalshi valued at $11bn after $1bn Series E funding round first appeared on EGR Intel.