Kalshi Raises $100M at $1B Valuation with Paradigm
Kalshi, a U.S.-regulated prediction market, is raising $100 million with a valuation exceeding $1 billion, supported by venture firm Paradigm, per Bloomberg. Unlike its main competitor Polymarket, Kalshi operates legally in the U.S. by complying with Commodity Futures Trading Commission regulations. Both platforms allow users to bet on future events. Previously, prediction markets were an academic interest, providing less biased news interpretations by aggregating informed bets. Kalshi and Polymarket gained popularity during the 2024 U.S. elections but later saw diminished activity. In September 2024, a D.C. court allowed Kalshi to list contracts on congressional races after initial CFTC objections, with Paradigm supporting Kalshi through an amicus brief. Kalshi's funding news follows Polymarket's reported $200 million fundraising efforts, as per The Information. Prior to this, Kalshi secured $30 million in 2021 Series A funding and additional short-term loans from venture firms last year, according to TechCrunch.
FAQ
❓ What is Kalshi?
Kalshi is a regulated prediction market in the U.S. that allows users to place bets on future events.
❓ Who is backing Kalshi's latest funding round?
Paradigm, a venture firm, is participating in the funding round, supporting Kalshi's growth.
❓ How does Kalshi differentiate from competitors like Polymarket?
Kalshi is legally regulated in the U.S., allowing it to operate under CFTC oversight, unlike Polymarket.