Predictive Market Platform Kalshi Raises $1 Billion in Funding, Led by Sequoia and CapitalG

On November 21st, according to informed sources, the prediction market platform Kalshi has secured $1 billion in its latest funding round, with the company being valued at $11 billion. This is less than two months after the seven-year-old startup announced a $300 million funding round and a $5 billion valuation. Insiders pointed out that this round of funding was led by Kalshi's existing shareholders, Sequoia Capital and CapitalG. Other investors also include a16z, Paradigm, Anthos Capital, and Neo. According to Bloomberg, Kalshi's main competitor, Polymarket, was also in talks for a new funding round last month, with a valuation range of $12 billion to $15 billion. Just a few weeks ago, Polymarket completed a $1 billion funding round at an $8 billion pre-money valuation. Since last year, both Kalshi and Polymarket have witnessed a significant rise in popularity as they both enable users to bet on the outcomes of presidential elections. Earlier this month, both platforms accurately predicted the results of the New York City mayoral election, further enhancing the visibility of these prediction betting websites. Kalshi allows users from more than 140 countries to bet on various future events, ranging from Time magazine's 2025 Person of the Year, the Rotten Tomatoes rating of the movie "Wicked," to longer-term events such as the ultimate winner of the next U.S. presidential election.