Kalshi’s valuation marked up to $11B after $1B funding round: TechCrunch

Predictions market platform Kalshi just bagged another $1B from Sequoia Capital and CapitalG, skyrocketing its valuation to $11B — putting it in the same league as rival Polymarket.

TechCrunch broke the news, citing sources close to the deal. Meanwhile, Andreessen Horowitz (a16z), Paradigm, Anthos Capital, and Neo sat this round out — major FOMO alert.

This comes just a month after Kalshi raised $300M in October as it expanded to 140 countries. Sequoia, a16z, and Paradigm were all in on that round too.

Now Kalshi and Polymarket are both flexing $10B+ valuations — with Polymarket reportedly eyeing a $12B-$15B raise next. The prediction market space is officially on fire.

For the uninitiated: prediction markets let you bet on real-world events — elections, sports, earnings, cultural drama — by buying 'yes' or 'no' shares. It’s like fantasy sports but for everything.

Kalshi and Polymarket have dominated the space, racking up over $17.4B in trading volume since September, per DefiLlama. Kalshi’s taking the crown with 61.4% of that volume.

Polymarket’s been blocked from the US since 2022 over regulatory drama, but it just relaunched in 'Beta Mode' this month — full return expected soon. The comeback is real.

Polymarket’s been stacking integrations: MetaMask, Google Finance, Yahoo Finance — all on board. But Kalshi’s not sleeping either: Google Finance, Robinhood, Elon Musk’s xAI and Grok, and the Pyth Network have all plugged in recently.