Kalshi raises $1B at $11B valuation after best volume month
03.12.2025
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Prediction market Kalshi has closed a $1 billion funding round at a valuation of $11 billion, after seeing its best-ever monthly volume in November.
Kalshi raises $1B at $11B valuation after best volume month
Prediction market Kalshi just bagged a $1 billion Series E round at an $11 billion valuation — more than doubling its worth since October. This comes hot on the heels of their record-breaking November trading volume. The round was led by crypto VC giant Paradigm, with Sequoia, a16z, and Cathie Wood's ARK Invest also throwing in.
“Kalshi is replacing debate, subjectivity, and talk with markets, accuracy, and truth. We have created a new way of consuming and engaging with information.” — Tarek Mansour, Kalshi CEO
Kalshi's valuation just skyrocketed from $5 billion in October (when they raised $300 million) to $11 billion now. Prediction markets — where you can bet on everything from sports to geopolitics — are having a major moment.
Prediction market volumes peak in November
Kalshi and its main rival Polymarket both smashed monthly volume records in November, thanks to wider adoption and slick integrations. Kalshi hit $4.54 billion in trading volume (beating October's $4.49 billion), while Polymarket posted $3.76 billion. Kalshi says its weekly volumes are now cruising past $1 billion — a 1,000% surge since 2024.
Both platforms are weaving into other products after pitching themselves as crowd-sourced probability engines. Google just added Kalshi and Polymarket odds to Google Finance as part of an AI revamp. Coinbase was also spotted building a prediction markets site powered by Kalshi.
Meanwhile, Polymarket is reportedly in talks for a raise that could value it between $12 billion and $15 billion. They were last valued at $1 billion after a $200 million round in June led by Peter Thiel's Founders Fund.
- • Kalshi closed a $1B Series E at an $11B valuation, led by Paradigm.
- • November trading volume hit a record $4.54B, up from $4.49B in October.
- • Weekly volumes now exceed $1B, marking 1,000% growth since 2024.
- • Rival Polymarket also hit a record $3.76B in November volume.
- • Google added Kalshi/Polymarket odds to Google Finance.
- • Coinbase is building a prediction markets site powered by Kalshi.
- • Polymarket is in talks for a raise valuing it at $12B-$15B.
#Kalshi#Venture Capital#Investments#prediction markets#Cryptocurrency market
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