Prediction market Kalshi has successfully secured a $1 billion funding round, achieving an $11 billion valuation, following its record monthly volume in November.
Confirming an earlier TechCrunch report, Kalshi stated on Tuesday that its latest Series E round was led by the crypto-focused venture firm Paradigm, with participation from other crypto-focused VCs such as Sequoia, Andreessen Horowitz, and Cathie Wood’s ARK Invest.
“Kalshi is replacing debates, subjectivity, and discussions with markets, accuracy, and facts,” remarked Kalshi CEO Tarek Mansour. “We have established a new means of consuming and interacting with information.”
Kalshi raised $1B at an $11B valuation.
A decade ago, only a few thousand people knew what a prediction market was.
Eighteen months ago, most prediction markets were banned – until we overcame the government to set them free.
Over the past seven years, our community has opened… pic.twitter.com/hGDkYxkSlh
— Tarek Mansour (@mansourtarek_) December 2, 2025
The latest funding more than doubles Kalshi’s previous $5 billion valuation achieved in a $300 million funding round in October, as the popularity of prediction markets, which facilitate bets on various topics from sports to geopolitical events, has surged.
Kalshi announced that it plans to utilize the new funding to integrate additional brokerages, establish partnerships with news organizations, and broaden its offerings.
Prediction market volumes peak in November
Kalshi, alongside its main competitor, Polymarket, reported record monthly trading volumes in November, benefiting from increased adoption through integrations with various products.
Kalshi’s trading volume reached $4.54 billion in November, exceeding its prior record of $4.49 billion in October, according to Token Terminal.
Kalshi noted that its trading volumes have spiked 1,000% since 2024 and are currently exceeding $1 billion per week.
The platform has outpaced Polymarket, which recorded a peak volume of $3.76 billion in November, following its $3 billion volume in October, which was its previous best month.
Related: Kalshi taps Solana to tokenize betting contracts: Report
The significant increase in trading volumes for Kalshi and Polymarket comes as both companies have secured agreements to integrate with other platforms, presenting their offerings as a method for crowd-sourcing probabilities.
Google recently announced that it would incorporate Kalshi and Polymarket odds into its search results as part of an AI-focused upgrade to its financial data platform, Google Finance.
Major cryptocurrency exchange Coinbase was also reportedly developing a website for a prediction markets platform that would be powered by Kalshi.
Polymarket is reportedly negotiating with investors for a funding round that could value it between $12 billion and $15 billion. The company had a $200 million funding round in June, led by Peter Thiel’s Founders Fund, which valued it at $1 billion.
Magazine: Crypto traders ‘fool themselves’ with price predictions — Peter Brandt
