Prediction market Kalshi, which operates under federal regulations as a competitor to Polymarket, has announced a funding round securing $185 million at a remarkable valuation of $2 billion. This new capital escalates its total funds raised to $415 million, which the company intends to utilize for enhancing its engineering team, developing new market offerings, and forming strategic partnerships.

Key Highlights:

• Kalshi’s fundraising allows for expansion amidst its rivalry with Polymarket.
• A report indicates Polymarket is also in the process of raising funds, targeting $200 million at a valuation of $1 billion.
• Current statistics show Kalshi boasts an active trading volume of approximately $113 million, while Polymarket leads with around $600 million.