Kalshi raises USD $300 million reaching a valuation of USD $5 billion

By Hannah Perez

Kalshi also projects an annualized trading volume of $50 billion by the end of this year, capturing more than 60% of the prediction market share and surpassing Polymarket.

***

• Prediction platform Kalshi raises its valuation to USD $5 billion.
• It is more than double the previous valuation of USD $2 billion.
• It also captures more than 60% of the prediction market, surpassing Polymarket.
• NYSE invested this week in Polymartket, raising its valuation to $9 billion.

---

Kalshithe New York-based financial exchange and prediction market, announced this Friday the raising of more than $300 million in a new financing round, bringing its valuation to $5 billion.

That figure represents more than double the valuation of USD $2 billion reached after its previous round in June, where it raised USD $185 million. The latest injection, led by high-profile investors such as Sequoia Capital, Andreessen Horowitz, Paradigm, CapitalG and Coinbase Venturesseeks to promote the international expansion of the platform.

Kalshi offers event contracts based on binary “yes or no” questions, allowing retail and institutional traders to trade on a wide range of future events. These include economic indicators, weather patterns, contests, as well as political and legislative outcomes.

The platform has seen explosive growth and now projects annualized trading volume of $50 billion by the end of this year, an impressive jump from $300 million last year. This boom has allowed capture more than 60% of the global predictions market share, surpassing its main rival, Polymarket.

Growth is also driven by the rise in sports betting, especially matched betting, and by integrations with platforms such as Robinhood and Webullwhich facilitate event trading.

Part of the funds will go towards the first major international expansion of Kalshiwhich has already expanded its access to users in more than 140 countries, beyond its operations in the United States.

The company has faced regulatory challenges, including lawsuits from several US states accusing the company of circumventing sports betting laws after overcoming federal hurdles with the Commodity Futures Trading Commission (CFTC).

The news was reported by various media, including Bloomberg and CoinDeskwho confirmed the details through company spokespersons. Kalshi It is thus positioned as a dominant player in the prediction markets ecosystem, attracting attention amid the growing popularity of these innovative financial tools.

Earlier this week, Polymarket —cryptocurrency based— announced that the parent company of the New York Stock Exchange, Intercontinental Exchange (ICE), will invest up to USD $2 billion in the platform at a valuation of USD $9 billion.

---

Article written with the help of AI, edited by DailyBitcoin

Edited image from Unsplash, with Kalshi logo

WARNING: DiarioBitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Investments in crypto assets are high risk and may not be suitable for everyone. Do your research, consult an expert and check applicable laws before investing. You could lose all your capital.