Prediction Market Kalshi Notches $2 Billion Valuation With $185 Million Raise
Summary
Kalshi has raised $185 million in a Series C funding round, achieving a $2 billion valuation and becoming a unicorn. The round was led by Paradigm, with participation from Sequoia, Multicoin, Peng Zhao, Neo, and Bond Capital. Funds will be used to expand the technology team and integrate with brokers. Kalshi previously had a post-money valuation of $787 million in late 2024 after raising $50 million. The demand for prediction markets is growing, evidenced by significant trading volumes in political event contracts. Kalshi has expanded its offerings, gaining approval to operate event contracts on U.S. congressional races and integrating Web3 capabilities to accept cryptocurrencies like Bitcoin and USDC.
