Kalshi Raises $1 Billion at $11 Billion Valuation

Kalshi, a leading prediction market platform, has raised $1 billion in funding at an $11 billion valuation, marking a rapid escalation in investor confidence just one month after its previous financing round. The latest investment, reported by sources familiar with the deal, was led by existing backers Sequoia Capital and CapitalG, Alphabet's growth fund, with participation from Andreessen Horowitz, Paradigm, Anthos Capital, and Neo.

The funding comes on the heels of Kalshi's October raise of $300 million, which valued the company at $5 billion and supported its expansion to more than 140 countries. Founded in 2018 by former hedge fund traders Tarek Mansour and Luana Lopes Lara, who met while studying computer science and mathematics at MIT, Kalshi operates as a federally regulated Designated Contract Market under the Commodity Futures Trading Commission. This oversight distinguishes it from decentralized rivals and allows U.S. users to trade event contracts using fiat currency on outcomes ranging from elections and sports results to cultural events like Time magazine's 2025 Person of the Year or the Rotten Tomatoes score for the film Wicked.

Kalshi's growth has been explosive....