Decentralized prediction market platform Kalshi has raised $1 billion in its latest funding round, valuing the company at $11 billion, TechCrunch reported Thursday.
Kalshi's latest financing round was led by Sequoia and CapitalG, the company's existing investors. Investors including Andreessen Horowitz, Paradigm, Anthos Capital, and Neo also participated in the round, according to the report.
The $1 billion funding came just weeks after the company announced a $300 million raise last month that valued it at $5 billion.
Kalshi declined to comment on the matter.
U.S.-regulated Kalshi has outpaced rival Polymarket in monthly volume since September, according to The Block's dashboard. In October, Kalshi recorded $4.4 billion in volume, compared with Polymarket's $3.02 billion.
Last month, Polymarket was reportedly in talks with investors to raise a new round at a valuation between $12 billion and $15 billion, Bloomberg reported. NYSE parent firm Intercontinental Exchange also agreed to invest up to $2 billion in Polymarket last month.
Prediction markets have gained notable traction throughout 2025, with Google Finance recently announcing earlier this month that it will integrate both Polymarket and Kalshi directly into its search results.
Bernstein analysts also said earlier this month that prediction markets are shifting to become broader information hubs spanning sports, politics, business, economics, and culture.
John Wang, Kalshi's head of crypto, told The Block last month that its prediction market aims to become available on "every large crypto application and exchange" within the next 12 months.
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