Kalshi has successfully completed a funding round totaling $1 billion, elevating its valuation to $11 billion, as it witnessed an unprecedented monthly trading volume in November.
Kalshi confirmed the details previously reported by TechCrunch, revealing that its Series E funding was spearheaded by Paradigm, a venture firm that concentrates on cryptocurrency investments, alongside contributions from notable VCs such as Sequoia, Andreessen Horowitz, and Cathie Wood’s ARK Invest.
“Kalshi is replacing debate, subjectivity, and talk with markets, accuracy, and truth,” stated CEO Tarek Mansour. “We have created a fresh method for consuming and engaging with information.”
“Kalshi est en train de remplacer le débat, la subjectivité et les mots par des marchés, de la précision et de la vérité,” a déclaré le PDG Tarek Mansour. “Nous avons créé une nouvelle manière de consommer et de s’engager avec l’information.”
This latest funding round more than doubles Kalshi’s previous valuation of $5 billion achieved in a $300 million round last October. The growing use of prediction markets, which allow betting on a variety of events, including sports and geopolitical occurrences, is driving Kalshi’s rapid growth.
Kalshi announced plans to utilize the funding to enhance integration with more brokerage firms, collaborate with news outlets, and expand its services.
Record Trading Volumes in November
In November, Kalshi and its main competitor, Polymarket, experienced record monthly trading volumes as they capitalized on broader adoption through integrations with other platforms. Kalshi’s trading volume hit $4.54 billion in November, surpassing its previous record of $4.49 billion from October, according to Token Terminal.
Kalshi forecasts that its trading volumes have surged by 1,000% since 2024, exceeding $1 billion weekly. The platform is now outperforming Polymarket, which achieved a record $3.76 billion in volume for November, building on its previous $3 billion volume in October.
Kalshi and Polymarket Monthly Trading Volumes
The all-time monthly trading volumes of Kalshi (blue) and Polymarket (green) show both dominate the market and hit a peak in November. Source: Token Terminal
The surge in trading volumes comes as Kalshi and Polymarket have successfully integrated their offerings into various platforms, positioning them as innovative methods to source probabilities from the crowd.
Google announced last month that it is incorporating Kalshi and Polymarket odds into its search results as part of a redesign of its financial data service. Coinbase was also revealed to be developing a prediction markets platform, presumably powered by Kalshi.
Polymarket is reportedly in discussions with investors about a valuation boost which may elevate its worth to between $12 billion and $15 billion, following a $200 million funding wave in June backed by Peter Thiel’s Founders Fund.
