Kalshi, a US-based prediction market platform where users can trade on real-world events, has announced a US$1 billion Series E funding round at an US$11 billion valuation.
The round was led by Paradigm.
Other participants included Sequoia, Andreessen Horowitz, Meritech Capital, IVP, ARK Invest, Anthos Capital, CapitalG, and Y Combinator.
Founded in 2018, Kalshi has established prediction markets as a financial asset class.
It aims to shift consumer engagement from passive observation to active participation, allowing users to trade on the likelihood of future events.
“Kalshi is replacing debate, subjectivity, and talk with markets, accuracy, and truth,”
said Tarek Mansour, CEO of Kalshi.
“We have created a new way of consuming and engaging with information. It’s hard to have an opinion about the future today without thinking about Kalshi.”
The platform reports weekly trading volumes exceeding US$1 billion, an increase of more than 1,000% compared with 2024.
It hosts over 3,500 markets and attracts millions of weekly users, including journalists, politicians, analysts, and investors.
Kalshi has also been used as a reference for election outcomes, such as the New York City mayoral race, which it projected within minutes of polls closing.
The funding will support further consumer adoption, integration with additional brokerages, partnerships with news organisations, and expansion of product offerings.
“Kalshi’s exponential growth shows the scale of latent demand for prediction markets as a new asset class, from institutions to everyday people,”
said Matt Huang, Co-Founder and Managing Partner at Paradigm.
“People come for one type of market and stay for the breadth. We see this as an uncapped cultural and economic phenomenon, similar to how we felt about crypto a decade ago.”
Featured image credit: Edited by Fintech News Switzerland, based on image by rawpixel.com via Freepik
